Pebb Capital and Sabal Investment Holdings have jointly acquired “The Press,” a mixed-use development in West Palm Beach, Florida. The property, located at 2751 S. Dixie Highway, was purchased from Tricera Capital in an off-market transaction for just under $80 million.
As part of the acquisition and repositioning process, Pebb Capital and Sabal will invest capital to improve the property’s overall value. This includes upgrades to office building common areas and completion of spec suites, as well as enhancements to the landscape and hardscape for better street presence on Dixie Highway.
Originally a former printing press and distribution facility spanning 11.6 acres, The Press now offers 256,653 square feet of office space along with retail space. Additionally included is a developable parcel measuring 3.7 acres currently used for parking purposes.
Tenants at The Press include notable names such as The Palm Beach Post,Palm Beach Atlantic University,and various retailers like Joseph’s Classic Market,Pink Steak,and Starbucks.Restore,Tremble Pilates,and Amped Fitness are also among its tenants.
