TCRE NAMED EXCLUSIVE LEASING AGENT FOR 500 S. AUSTRALIAN WATERFRONT CLASS A OFFICE BUILDING IN WEST PALM BEACH

New Ownership CS Venture’s Comprehensive Renovation Program Slated for

Completion Q2 2023

WEST PALM BEACH, Fla. (Feb. 28, 2023)–TCRE, a full-service commercial real estate brokerage in South Florida, announced today the firm has been named the exclusive leasing agent for 500 S. Australian, a 102,087-square-foot, 10-story Class A office building located off Clear Lake at 500 S. Australian Ave. in West Palm Beach.

“500 S. Australian caters to tenants seeking high-end professional office space in West Palm Beach without the traffic or extra commute time,” said Constance Thomas, senior managing director at TCRE, who is spearheading leasing efforts for ownership. “Spectacular unobstructed water views, offering a substantial rent discount in the CBD, onsite parking garage and security, an updated design, and prime location steps from the train station with many local amenities and daily conveniences, all speak to what tenants are looking for in today’s market.”

CS Ventures Management, a joint venture led by Spencer J. Schlager and Charles L. Rosenberg, acquired the office building in December 2022. A comprehensive $3 million exterior and interior renovation program is underway including a new landscape design, roof installation, painting the entire building and garage, and upgrading common areas and restrooms. Completion is slated for Q2 2023.
 

The tower offers executive office space ranging in size from 1,000-12,500 square feet with onsite management, several conference rooms and unobstructed views of Clear Lake and the Downtown West Palm Beach skyline. Exclusive building signage is available.

The building provides a modern and tranquil work environment. Features include an updated lobby, Field of Greens salad eatery, manned security, ATM, and structured parking garage for tenants and guests with electrical car charging stations.

500 Australian is approximately 92 percent leased with tenants including Centennial Bank, Castle Group, Edward Jones, the U.S. General Services Administration, law firm Goldberg Segalla, N2W Software and civil engineering firm Chen Moore and Associates.

Situated just west of downtown, 500 Australian is approximately one block north of Okeechobee Boulevard with Clear Lake to the west. The transit-oriented building is ideal for commuters who appreciate the building’s prime location without traffic. In addition to its close proximity to I-95, Downtown West Palm Beach and the Palm Beach Airport, 500 Australian is within walking distance to the Tri-Rail, Brightline station and Marriott Hotel. Tenants have an abundance of nearby retail, dining, entertainment and housing options.