Tricera Capital Breaks Ground on 265,000 SF Office, Retail Redevelopment Project in South Florida
WEST PALM BEACH, FLA. — Miami-based Tricera Capital has broken ground on the redevelopment of the Palm Beach Post newspaper office campus in West Palm Beach. The project, named The Press, will add 125,000 square feet of new retail space and 140,000 square feet of refurbished office space to the market.
The project began with the demolition of a two-story office building and bridge. The development team, which acquired the 11-acre site in February 2019, will preserve most of the remaining structures, including those that housed the Post’s original office building and printing press. The retail component will be branded as Shops at the Press, and the office component will be branded as Workspaces at the Press.
As part of the project, Tricera will renovate the existing four-story office building, and the newspaper will continue to operate within 35,000 square feet at the property. The building that housed the printing press will be converted into a space for retail, lifestyle and entertainment uses.
The entire project is scheduled for completion during the first quarter of 2021. Tricera is close to finalizing a lease agreement with a national organic grocer to open a new store at the property, the developer says.
Miami-based Red Door Construction is the general contractor. Storyn Studio, based out of St. Petersburg, is handling design of the project. Local artist Ya La’ford will create public art displays on the project’s exterior façade.
Atlanta-based Cox Enterprises owned both the Palm Beach Post and its office campus since 1969, according to local news station WPTV. After selling the newspaper to GateHouse Media in 2018, Cox elected to sell the associated real estate to Tricera.
— Taylor Williams