Savills Opens Second South Florida Office in Boca
By Julia Echikson August 22, 2022 4:49 pm
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As companies rush into South Florida, Savills has added an office in Boca Raton, Fla.
Located at 150 East Palmetto Park Road, the new base, the brokerage’s second in South Florida, will house five brokers in total. A spokesperson for the firm declined to comment on the size of the office, which opened Monday.
David Browne leads the Boca branch as a senior managing director. The executive helped Savills get started in the region, co-founding its Miami office back in 2000 before striking out on his own in 2006.
“Establishing Savills’ footprint in the heart of Palm Beach County, along with the addition of a seasoned veteran like David, is a huge benefit to our current presence in one of the most thriving office marketplaces in the country,” Tom Capocefalo, executive managing director of Savills’ Miami office, said in a statement.
The expansion comes as a slew of new-to-market companies, notably financial firms, open up shop in West Palm Beach, which, like Boca Raton, is in Palm Beach County.
Just last month, Blackrock, the world’s largest money manager, signed a 5,000-square-foot lease at the Related Companies’ 360 Rosemary, where it will join other financial heavyweights Goldman Sachs and Elliott Management.
West Palm Beach, by the end of 2021, boasted the country’s second-highest office absorption rate, which stood at 3.1 percent, according to data from JLL.
Julia Echikson can be reached at jechikson@commercialobserver.com.
