Lease roundup: Tricera scores tenants in West Palm, Boca

In other deals, an urgent care provider leased in Palm Beach Gardens

Tricera Capita's Ben Mandell with rendering of The Press project (Tricera Capital)
Tricera Capita's Ben Mandell with rendering of The Press project (Tricera Capital, Storyn Studio)

Calico, Blue Sky Financial, SROA Capital, More I The Press I West Palm Beach

Tricera Capital is quickly filling up its The Press project in West Palm Beach.

Salons by JC leased roughly 10,400 square feet; interior design, custom furnishings and fabric retailer Calico leased roughly 3,200 square feet; cryotherapy and wellness provider Restore Hyper Wellness leased roughly 2,700 square feet; and Raw Jūce leased roughly 1,700 square feet at the project’s retail portion, called the Shops at The Press, according to a Tricera news release.

At the office building, called Workspaces at the Press, self-storage investor SROA Capital took about 26,000 square feet; flexible office provider Knotel took about 18,000 square feet; and mortgage broker Blue Sky Financial renewed its 5,200-square-foot space, the release says. Blue Sky relocated from another part of the building.

Ben Mandell’s Tricera, based in Miami, is redeveloping the Palm Beach Post’s campus at 2751 South Dixie Highway. The printing press and distribution facility is being retrofitted into the Shops at The Press, and the existing office building is turning into Workspaces at the Press.

The buildout of tenant spaces is expected to be completed in the fourth quarter. Joseph’s Classic Market already leased at The Press and is expected to open this year.

Along with the leases, Tricera scored a $19 million refinancing from Monroe Capital, according to the release. The additional funds will be used for tenant and site improvements, and for the buildout of the retail and office buildings.

Jason Krane of Ackman-Ziff Real Estate Group handled the loan.

Tricera had also taken out a $50.8 million refinancing and construction loan from Monroe last year.

Wells Fargo I 1675 Midtown I Boca Raton

Sign Up for the undefined Newsletter

Tricera Capital’s recent leasing deals were not restricted to West Palm Beach.

In Boca Raton, the real estate firm signed Wells Fargo for a 25,000-square-foot office space at the 1675 Midtown building, according to a Tricera news release.

The bank, which will move in in March, has an option to expand its footprint in the building.

Tricera bought the seven-story building at 1675 North Military Trail in November for $20 million, records show. Constructed in 2008, the building spans 70,000 square feet and includes a four-story parking podium.

Dustin Ballard of Tricera brokered the Wells Fargo deal.

John Criddle and Joe Freitas lead the CBRE team that now leases available spaces at 1675 Midtown.

MDNow I Palm Beach Gardens

Urgent care provider MDNow leased more than 18,000 square feet in Palm Beach Gardens.

MDNow signed a 10-year deal for the fourth-floor space at 4200-4400 Northcorp Parkway, according to a news release from the landlords. MDNow is moving from its West Palm Beach offices.

New York-based Alchemy-ABR Investment Partners and Miami-based Breakers Capital Partners bought the two-building campus in 2016 for $30.1 million. The buildings total more than 115,000 square feet on 6.2 acres, according to property records and the release.

Trinity Commercial Group represented MDNow. Anthony Librizzi of Cushman & Wakefield represented the owners.