Related Companies announced International Workplace Group (IWG), the global leader in flexible workspaces, will bring coworking brand Spaces to 360 Rosemary. The 26,000-square-foot location will be Spaces’ seventh venue in Florida and first in West Palm Beach. Related Companies also closed on more than $140 million in financing with MSD Capital to fund the 20-story, 300,000-square-foot, anticipated LEED Gold Class-A office building, which is expected to be complete in early 2021.
“The addition of Spaces and the strategic financing with MSD Capital represents a continued show of confidence in our vision of 360 Rosemary from both business leaders and elite investors,” said Gopal Rajegowda, senior vice president of Related Companies. “This state-of-the-art building in the heart of downtown West Palm combines flexible workspaces and unrivaled access to fashion, cuisine and culture at Rosemary Square."
“As attitudes towards workplaces continue to change, it is more important than ever to understand the expectations of employees to create a thriving culture within a business,” said Michael Berretta, VP, Network Development, Americas, IWG. “360 Rosemary was an obvious choice; the location, in the midst of a vibrant urban neighborhood, provides a competitive advantage to our businesses and helps them attract and retain talent. The flexibility and attention to detail in the building sparks creativity that our community of forward thinkers, entrepreneurs and game changers crave."
Spaces offers creative workspace solutions to dynamic communities in more than 385 cities around the world and more than 115 locations across the United States. In 360 Rosemary, the coworking venue will feature a collaborative environment and offers customers direct access to a diverse collection of shopping, dining, wellness and cultural amenities in the Rosemary Square neighborhood. Jon Blunk, president of Tower Commercial Real Estate, is the exclusive leasing agent for 360 Rosemary and represented Related in the transaction. Spaces was represented by Josh Hirsh, Gavin McPhail and John Marshall of Jones Lang LaSalle.
360 Rosemary is a Class-A office building designed by Elkus Manfredi Architects and Leo A. Daly that will bring state-of-the-art, connected and innovative workspaces to South Florida. The 20-story modern building will offer loft-style office space with expansive floor-to-ceiling windows that maximize natural light and 10,000 square feet of outdoor amenity space including two terraces that allow for an exceptional indoor/outdoor workplace environment. Located adjacent to Virgin Trains USA high-speed rail station, which connects West Palm Beach with Miami, Fort Lauderdale and the soon-to-open Orlando station, on 10 local bus routes and just 3 miles from the Palm Beach International airport, the building offers unparalleled access to local transportation hubs.
For more information about 360 Rosemary, please visit www.360rosemary.com.
*For renderings of 360 Rosemary, please visit here.
Related Companies is a global real estate and lifestyle company defined by innovation and the most prominent privately-owned real estate firm in the United States. Formed over 40 years ago, Related is a fully-integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance, marketing and sales. Headquartered in New York City, Related has offices and major developments in Boston, Chicago, Los Angeles, San Francisco, South Florida, Washington, D.C., Abu Dhabi and London, and boasts a team of approximately 4,000 professionals. With over $60 billion in assets owned or under development including the 28-acre Hudson Yards neighborhood on Manhattan’s West Side, The Grand and Related Santa Clara in California and The 78 in Chicago. Related was recently named to Fast Company Magazine’s list 50 Most Innovative Companies in the World. For more information about Related, please visit www.related.com.
Spaces offers an inspiring work environment for professionals and growing businesses. In addition to office space, there are memberships and meeting rooms to help encourage creation and cooperation with like-minded people. Spaces’ goal is to offer inspirational surroundings with an entrepreneurial spirit where ideas are born, a company can evolve and valuable relationships are built. Spaces has locations in the United States, Europe, Canada, Latin America, Africa, Australia and Asia. For more information, visit www.spacesworks.com.