According to the South Florida Business Journal, several major deals in South Florida’s office leasing activity this year highlight continued corporate confidence in not just the region, but especially in emerging cities like West Palm Beach. These new leases reflect growing demand for both suburban and tech-oriented office hubs.
Shutts & Bowen’s Real Estate Leasing Team, led by West Palm Beach Partner and Chairman of the firm’s Real Estate Leasing Group Arthur J. Menor, was at the forefront of two of South Florida’s most significant lease deals. Those highlighted lease transactions were in West Palm Beach’s CityPlace, showcasing the area’s emergence as a center for technology and healthcare innovation. Daniel Caplow, West Palm Beach partner and member of Shutts & Bowen’s Real Estate practice group, also worked on these successful deals.
ServiceNow (NYSE: NOW), a California-based artificial intelligence and workflow automation company, will establish a regional headquarters and AI institute at 10 CityPlace, occupying 200,000 square feet. The project, developed by Related Ross, is expected to generate a $1.8 billion economic impact and create more than 850 local jobs by 2030, with completion anticipated in 2028. Widely referred to as “Wall Street South”, ServiceNow’s investment reinforces West Palm Beach’s growing tech ecosystem, further establishing West Palm Beach as a major business hub.
Next door at 15 CityPlace, Cleveland Clinic has signed a lease for 120,000 square feet in another Related Ross building to open a new outpatient medical facility. The center will offer hemotherapy, infusions, concierge medicine, imaging, endoscopy, and outpatient surgery services. This marks a substantial expansion from Cleveland Clinic’s current West Palm Beach location in CityPlace Tower, as the new space will be four times larger.
Together, the ServiceNow and Cleveland Clinic projects signal a transformative phase for downtown West Palm Beach, combining high-end medical and technology investments that are reshaping the city’s economic profile and solidifying its status as one of South Florida’s most dynamic office markets.
Shutts & Bowen’s commercial leasing team comprises one of the largest office building leasing practices in the state of Florida. The practice group utilizes shorter office and retail lease forms which – while maintaining robust landlord protections – are less expensive, easier and quicker to negotiate than traditional “long form” landlord leases, and have been met with greater acceptance by tenants and brokers. The practice group is well-known for its development of a document assembly software system and related forms and procedures to deliver cost-effective preparation of high-quality commercial leases and related documents.
About Shutts & Bowen LLP
Shutts & Bowen LLP, established in 1910, is a full-service business law firm with approximately 280 lawyers in offices in Fort Lauderdale, Jacksonville, Miami, Orlando, Sarasota, Tallahassee, Tampa and West Palm Beach. Learn more about Shutts & Bowen at www.shutts.com.