New United Technologies building to boost tech presence

Miami /
Sep.September 23, 2015 02:15 PM

United Technologies may receive approval from Palm Beach Gardens as soon as next month for its 265,000-square-foot, six-story tower, and industry insiders say the project could be a boon for the market, The Real Deal has learned.

The building, in the city’s Briger tract near I-95 and Donald Ross Road, will be a showcase facility for the building technologies produced by UT’s Building & Industrial Systems unit, which includes the Carrier air conditioner and Otis elevator brands. UT hopes to complete the development next year. 

“It’s an interesting and world renown building, because it will be a showcase—a demonstration of cutting edge building technology,”  Neil Merin, chairman of NAI Merin Hunter Codman in West Palm Beach, told TRD. “This will bring people from all over the globe to Palm Beach County.”

UT also has promised to bring 380 new jobs that pay an average salary of $85,000 by 2020. “It will bring cars on the street,” Cliff Hertz, a real estate lawyer at Broad and Cassel in West Palm Beach, told TRD. UT also may bring other companies in its wake. “We do have a herd mentality,” Hertz said. “If they are there, others will look too.”

The area where UT will locate is officially designated for life sciences (the company received a waiver). “But there are plenty of other spaces for people to go,” Hertz said.

Jonathan Satter, managing director of commercial real estate services firm Avison Young in West Palm Beach, told TRD he already has been contacted by companies that provide technology services to UT and are “aggressively seeking a presence nearby. I think you will see a steady stream of companies that provide some level of service or capacity to UT coming with them,” Satter said.

One firm is considering moving 50 jobs here, he said.

Merin said UT’s presence will solidify northern Palm Beach County’s status as an engineering hub, which now has a focus on energy and aerospace. NextEra Energy and its subsidiary Florida Power & Light are based in Juno Beach, and several major aerospace companies have a presence in the area.

UT’s plan to build in Palm Beach Gardens comes after it decided in June to sell its Sikorsky Aircraft business, which has a facility in Jupiter.


Related Articles

arrow_forward_ios
Interstate Industrial Park at 6555-6557 Garden Road (Google Maps, iStock)
Koda Interstate buys Riviera Beach industrial park for $13M
Koda Interstate buys Riviera Beach industrial park for $13M
Commercial Tower and East Sunrise Boulevard
Lease roundup: Iberia Foods takes 78K sf space & more
Lease roundup: Iberia Foods takes 78K sf space & more
Alfred F. Kelly, Jr. and 833 Turtle Beach Road (Visa, Google Maps)
Life takes cash: Visa CEO buys lakefront home in North Palm Beach
Life takes cash: Visa CEO buys lakefront home in North Palm Beach
Rey Grabato and 707 North Ocean Boulevard, Delray Beach (Linkedin, 707 Delray)
NRIA CEO sells oceanfront Delray Beach spec home for $16M
NRIA CEO sells oceanfront Delray Beach spec home for $16M
Terranova founder Stephen Bittel and Cineworld CEO Mooky Greidinger with Shadowood Square (Getty, Google Maps, Terranova, iStock)
Terranova wins suit against Regal Cinemas over $807K in unpaid rent at Boca Raton shopping center
Terranova wins suit against Regal Cinemas over $807K in unpaid rent at Boca Raton shopping center
James and Marta Batmasian with former Boca Raton Mayor Susan Haynie (Investments Unlimited)
Ex-Boca mayor pleads guilty in public corruption case over financial ties to real estate tycoon
Ex-Boca mayor pleads guilty in public corruption case over financial ties to real estate tycoon
South Florida resi construction starts take hit in February (Getty)
South Florida resi construction starts take hit in February
South Florida resi construction starts take hit in February
Dustin Johnson and 15106 Palmwood Road (Getty, Flexmls)
Hole in one: Pro golfer Dustin Johnson sells Palm Beach Gardens estate
Hole in one: Pro golfer Dustin Johnson sells Palm Beach Gardens estate
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...