Venture X Coworking Provider Signs 29K-SQ Lease in South Florida
By Julia Echikson August 5, 2024 1:46 pm
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A franchisee for coworking operator Venture X signed a 28,959-square-foot lease at the Palmetto Central office complex in Boca Raton, Fla.
The coworking location, on the top floor of the eight-story building, is scheduled to open in the third quarter of 2025.
Kevin Priddy is the Venture X franchise owner. Derek Baker of Colliers represented the tenant. CBRE’s Joe Freitas, John Criddle and Max Pawk represented landlord Grover Corlew in the lease negotiations. Derek Baker of Colliers
The 68,804-square-foot building sits just east of I-95 at 1489 West Palmetto Park Road. The Boca Raton-based landlord also owns the 87,146-square-foot building next door.
The complex, which is 79 percent leased, is undergoing a $30 million renovation, including upgrades to the two buildings’ façades, lobbies and common areas.
Venture X, which counts United Franchise Group as its parent company, has been quickly expanding across South Florida. In February, another franchisee inked a 20,253-square-foot lease at a former WeWork location in Downtown Miami. A year prior, it signed a 10-year lease for 12,149 square feet at District Pointe in West Palm Beach.
Julia Echikson can be reached at jechikson@commercialobserver.com.
