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Ken Himmel, a top Related official, also is an owner, sources said. Related Cos. has been a driving force in the development of West Palm Beach's downtown for more than 20 years. The Phillips Point acquisition cements Ross' control of the West Palm Beach office market at a time when financial services firms are eying space in Florida. Many firms are seeking to leave crowded urban cities due to the pandemic and high taxes in other states. In an email, Himmel, chief executive of Related Urban, confirmed the purchase by a Related affiliate, but he was vague about the entity's owners.

Email Address The Covid-19 pandemic has pushed companies to consider new ways to provide office space for employees who have grown accustomed to working remotely. Related’s deal comes as Wall Street firms, long clustered in Manhattan, look to Florida as they shift some workers away from New York. Goldman Sachs Group Inc., which maintains a small office in Phillips Point, has been weighing plans to create a South Florida hub for its asset-management arm. And electronic market maker Virtu Financial Inc. is preparing to move about 30 employees from New York to Palm Beach Gardens. Related, ...

Phillips Point office towers with Related’s Stephen Ross (JLL, Getty) The Related Companies is expected to close on the Phillips Point office towers in West Palm Beach for $282 million. Matt McCormack AEW Capital Management is selling the 448,914-square-foot office complex. The deal, which will mark the largest office sale in South Florida in more than a year, is set to close in a couple of weeks. Real Estate Alert and Bloomberg reported the deal. A source confirmed details of the sale to The Real Deal. Related will pay about $630 per square foot for the buildings at 777 South Flagler Driv...

Despite Covid-19, DeSantis is holding a party with legislators — Governor sued over withholding public records on coronavirus — Electoral College vote today Presented by CVS Health Good Monday morning. The daily rundown — Between Saturday and Sunday, the number of Florida coronavirus cases increased by 8,958 (0.8 percent), to 1,125,931; active hospitalizations went up by 62 (1.3 percent) since Friday, to 4,686; deaths rose by 81 (0.4 percent), to 19,866. Ho, ho, ho — So, who’s ready for a Christmas party? Come on in — Despite the warnings from national officials about holiday gat...

Rumors swirled this past week around the idea that New York City’s Goldman Sachs was eyeing South Florida as a potential new home for its asset management division. Now, downtown West Palm Beach is looking like a real possibility to eke out Miami, Fort Lauderdale and Texas, according to Brian Gale, vice chairman of Cushman and Wakefield and a leasing agent at Phillips Point, a 451,858-square-foot Class A office building located at 777 S. Flagler Drive.  “We’ve heard there might be a requirement for about 35,000 square feet total,” he said.  Not exactly a solid commitment, but tellin...