The Related Cos. plans to build an 18-story office building on the north end of CityPlace, a move that could boost efforts to link the West Palm Beach mixed-use center to the rest of downtown and further develop the city’s core urban district.
360 Rosemary is slated to rise at the corner of Rosemary Avenue and Evernia Street, the first in a series of steps designed to expand and update CityPlace, a shopping, dining and residential center built by Related.
The 285,000-square-foot tower will be across from Publix. The supermarket was courted for the ground floor space, but a Related official said this week that Publix is staying put at CityPlace. The office tower instead will feature another retailer.
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“It’s a big building for our market,” said Neil Merin, chairman of NAI/Merin Hunter Codman in West Palm Beach.
Related tried to build another office tower next to CityPlace a few years ago, but it was unable to obtain enough tenants willing to pre-lease space in the project, dubbed Gateway Tower.
In 2014, Related pulled the Gateway Tower plan. The next year, it unveiled a different idea: The Restoration Hardware furniture gallery, which opened last year.
Merin said Related, at some point, will need to decide whether it’s going to rely on pre-leasing to clinch a decision to build 360 Rosemary, “or if they’re going to build it anyway.”
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