Tahiti Inn Investment Opportunity

125 Inlet Way, Palm Beach Shores, FL Confidentiality & Disclaimer Statement Offering Procedure

This is a confidential Offering Memorandum intended solely for Offers should be submitted in the form of a standard non-binding Letter of your own limited use to determine whether you wish to express any Intent, which can be provided by the broker, and must specify the following: further interest in the property. This confidential memorandum contains • Price (Call for pricing guidance) brief, selected information pertaining to the business and affairs of • Length of Inspection Period the Site and has been prepared by Colliers International Florida, LLC, • Length of Closing Period primarily from information supplied by the Owner. Although this • Amount of earnest money deposit at execution of a Purchase and confidential memorandum has been reviewed by representatives of Sale Contract the Owner, it does not propose to be all-inclusive, nor does it contain all • Amount of additional deposit upon expiration of Inspection Period the information which a prospective purchaser may require or desire. Neither the Owner, nor any of its officers, directors, employees or agents, Property Tours nor Colliers International Florida, LLC, makes any representation or Interested parties must execute a confidentiality agreement and schedule a warranty, expressed or implied, as to the accuracy or completeness of this prearranged time with the broker prior to touring the property. Tours will be confidential memorandum or any of its contents, and no legal liability is conducted by appointment only and no one is allowed to tour the property assumed or is to be implied by any of the aforementioned with respect and disturb tenants without the brokers’ knowledge. Please see broker thereto. contact information below to schedule a tour. Prospective offerors are advised to verify the information independently. The Owner reserves the right to change the price or any information in Contact Us this Memorandum, or to withdraw the Site from the market at any time, without notice. This confidential memorandum shall not be deemed an Bastian Laggerbauer Mark Rubin indication of the state of affairs of the Property or the Owner, nor shall it Director Executive Managing Director constitute an indication that there has been no change in the business or +1 561 281 6656 +1 561 549 9452 [email protected] [email protected] affairs of the Property or the Owner since the date of preparation of this memorandum. By your receipt of this confidential memorandum, you Harry Blyden agree that the information contained herein is of a confidential nature Executive Director and you will not disclose this memorandum or any part of the contents to +1 305 779 3176 any other person, firm or entity without prior authorization from Colliers [email protected] International Florida, LLC. Colliers International Florida, LLC 901 Northpoint Parkway, Suite 109 West Palm Beach, FL 33407 colliers.com Table of Contents

Investment 06 Summary

Property 07 Information

Location 10 Overview

Area 20 Overview

Sales 22 Comparables

Market 26 Overview Tahiti Inn - Investment Opportunity with Intrinsic Land Value. Palm Beach Shores, one of the best kept secrets in West Palm Beach. The Offering

Colliers International, as exclusive agent for the Owner, is pleased to offer for sale the Tahiti Inn at 125 Inlet Way (“the Property”), a two-story, 12-unit, ±6,448 SF (0.4930 AC) multifamily property located in Palm Beach Shores, Florida. Built in 1962, the Property comprises eleven (11) one- bedroom units and one (1) two-bedroom unit.

The Property is located in Palm Beach Shores, Florida, one of West Palm Beach’s best kept secrets and home to one of South Florida’s most beautiful beaches. Investment Highlights The Property offers an excellent opportunity to acquire a fully leased property with existing rehabilitation business on a sale/leaseback basis (please call for terms) or acquire the property vacant with the potential to fill the property Located in Palm Beach Shores proximate to local amenities and Beach with a Hotel, Multifamily or Rehabilitation use. access.

It is conveniently located less than five miles from the I-95 interchange, providing exceptional access to surrounding The property has been recently renovated with impact glass, new submarkets and Palm Beach International Airport. basketball court and revamped attractive pool area.

The property is in excellent condition with no deferred maintenance. Asking Price: $4,200,000 Cap Rate: 6% Current Tenant in place is Owner-Operated Pivot Treatment and Wellness Centers. Pivot is licensed to provide Partial Hospitalization (PHP), Intensive Outpatient (IOP) and Outpatient (OP) services. Each WATCH VIDEO level of service can treat up to 32 clients concurrently. Most clients participate in a 30 to 60-day plan. (more information and financials can be provided upon request). 125 Inlet Way | Colliers 7 Property Overview

Property Name Tahiti Inn

125 Inlet Way Address Palm Beach Shores, FL 12 Total Units 1/1 - 11 Units 2/1 - 1 Unit Inlet Way SF / Acres ±6,448 SF / ±0.4930 AC

Year Built/Renovated 1962/2020

% Leased 100%, Owner-Operated

Stories Two

Parking 14 Surface Spaces

B - Multi-Family (Medium Zoning Density) ( 54-Palm Beach Shores )

Multifamily, Hotel or Uses Rehabilitation

DOWNLOAD ZONING CODE Property Photos 125 Inlet Way | Colliers 9 Location Overview

The Subject Property is located in the independent Town of Palm Beach Shores, located on the Southern tip of Singer Island. The property is positioned on Inlet Way, just south of North Ocean Drive the primary north-south roadway on Singer Island. North Ocean Drive is home to the Ocean Mall and a high concentration of resorts and high-end residential high-rise condominiums.

The property is approximately five miles from I-95, which is accessible via North Ocean

Drive. Close highway access connects the subject property to West Palm Beach, Palm Beach Gardens and surrounding South Florida markets. The site is approximately 20 125 Inlet Way minutes from Palm Beach International (PBI) Airport and less than 20 minutes to the PGA Boulevard corridor with some of Northern Palm Beach County’s finest retail and dining options.

The property’s proximity to local demand generators, major submarkets and roadways is shown below:

Demand Generators Distance Drive Time

Ocean Mall 0.7 miles 4 minutes

PGA Boulevard 6 miles 12 minutes

Interstate 95 4.6 miles 14 minutes

Palm Beach International Airport 13.7 miles 23 minutes

West Palm Beach CBD 6.8 miles 17 minutes

PGA National Resort & Spa 11.5 miles 25 minutes

Fort Lauderdale CBD 54 miles 1 hour

Miami CBD 81 miles 1 hour 20 minutes 125 Inlet Way | Colliers 11

Palm Beach Marriott John D. McArthur Singer Island Beach State Park

Palm Beach Gardens Amrit Ocean Resort & Residences Riviera Beach The Ritz-Carlton Phil Foster Park Residences

N Ocean Drive Ocean Walk with Intracoastal Public Beach Access and Boardwalk Subject Site Atlantic Ocean

Inlet Beach Club Marriotts & Palm Beach Condominiums 106 Inlet Way Shores Resort and Condominiums Vacation Villas

N Ocean Avenue

North Property Aerials

Inlet Way 125 Inlet Way | Colliers 13

Inlet Way

Inlet Way

Inlet Way

Inlet Way North Facing Aerial

N Ocean Avenue

North 125 Inlet Way | Colliers 15

Palm Beach Marriott Singer Island

John D. McArthur Amrit Ocean Palm Beach Gardens Resort & Residences Beach State Park The Ritz-Carlton Residences Ocean Walk with Phil Foster Park Public Beach Access and Boardwalk

N Ocean Drive Marriotts & Palm Beach Shores Resort and Sailfish Subject Site Vacation Villas Marina Resort

Inlet Beach Club 106 Inlet Way Condominiums Condominiums

North Floor Plans 125 Inlet Way | Colliers 17 Site Plan Plot Plan 125 Inlet Way | Colliers 19 Area Overview

Palm Beach County Overview

Palm Beach County is located within the South Florida metropolis, just north of Miami-Dade and Broward Counties. Together, the tri-county region is the eighth most populous metro area in the nation and the largest in the State of Florida, recording over 6.2 million residents and accounting for over one-third of the state’s population. Palm Beach County is the third largest county in the state in terms of land area encompassing more than 2,000 square miles.

According to Fitch reports, Palm Beach County is recognized as one of the nation’s wealthiest counties, with per capita personal income levels nearly 50% higher than state and national averages and high ratings reflective of its diversifying economic base, sound financial position, and moderate debt levels. Furthermore, Palm Beach County is one of the nation’s leading tourist destinations offering white sand beaches, clear turquoise waters and internationally acclaimed shopping, dining and golfing venues that appeal to the masses.

Economic statistics for the County, before the COVID-19 pandemic, pointed to a vibrant and healthy economy that was forecasted to continue on a path of growth in 2020 and through 2021 with expanding economic sectors including luxury tourism, healthcare, technology manufacturing, and agriculture. As the County and State begin to reopen, those sectors will help the economy recover and regain its footing on a path of regrowth. 125 Inlet Way | Colliers 21

Palm Beach Shores Overview At the southern tip of the exclusive Singer Island lies the Town of Palm Beach Shores. Surrounded by the Atlantic Ocean on the east, Lake Worth Lagoon on the west and Lake Worth Inlet on the south, the picturesque and charming town is surrounded by beautiful white sand beaches and teems with water activities. Palm Beach Shores is Florida’s easternmost point with a small population of 1,264. There is an abundance of leisure activities for tourists to enjoy including relaxing at the beach, swimming, shell hunting or riding surfboards. Located in Palm Beach County, visitors can also enjoy a variety of activities on the mainland including shopping, dining, entertainment and sports.

Singer Island Overview Singer Island is technically not an island, but a peninsula on the Atlantic coast of Palm Beach County, Florida. Most of Singer Island is in the city of Riviera Beach, but the town of Palm Beach Shores occupies its southern tip. Before the Palm Beach Inlet was created, Singer Island was connected to the island of Palm Beach to the south. Singer Island is home to premium high-rise condominiums, some of South Florida’s most beautiful beaches and world-class resorts. Singer Island offers dining options at the popular Sailfish Marina along with retail and dining offerings at Ocean Walk, just steps away from Singer Island City Park and beach. Comparable Sales

125 Inlet Way 1 150 Inlet Way 2 200 Inlet Way 3 206 Inlet Way Palm Beach Shores, FL Palm Beach Shores, FL Palm Beach Shores, FL Palm Beach Shores, FL

Sale Date n/a Sale Date August 2019 Sale Date August 2019 Sale Date August 2019

Year Built 1962, Ren. 2020 Year Built 1950 Year Built 1950 Year Built 1953

Size (sf) 6,448 Size (sf) 6,598 Size (sf) 5,655 Size (sf) 5,569

Units 12 Units 11 Units 11 Units 9

Price / Unit n/a Price / Unit $210,000 Price / Unit $210,000 Price / Unit $210,000

Buyer n/a Buyer Robert Castellano Buyer Robert Castellano Buyer Robert Castellano

Notes: Bulk/Portfolio Sale $6,500,000. Notes: Bulk/Portfolio Sale $6,500,000. Notes: Bulk/Portfolio Sale $6,500,000. Notes: Subject Property Located across the street from the Subject Located across the street from the Subject Located across the street from the Subject Property with redevelopment proposed Property with redevelopment proposed Property with redevelopment proposed for a new condominium complex. for a new condominium complex. for a new condominium complex. 125 Inlet Way | Colliers 23 TransportationTransportationTransportationTransportation Access Access AccessAccess

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TransferTransferTransfer Station Station Station as as well as well well as as at as atthe at the Miamithe Miami Miami transportation transportationtransportation is isavailable isavailable available to to county to county county planned.planned.planned. Airport station. residents. U.S. Airports. AirportAirportAirport station. station. station. residents.residents.residents. 125 Inlet Way | Colliers 25 Demographic Overview - 5 Mile Radius

129,803 Total Population in 2020

55,759 Total Households in 1 Mile 2020

3 Miles 5 Miles $84,302 Average Household Income in 2020

Population 1 Mile 3 Miles 5 Miles Median Household Income 1 Mile 3 Miles 5 Miles 2020 Population 3,139 46,098 129,803 2020 Median Household Income $86,602 $48,127 $53,796 2025 Population 3,326 48,362 137,385 2025 Median Household Income $93,468 $52,441 $57,772

2020-2025 Annual Rate 1.16% 0.96% 1.14% 2020-2025 Annual Rate 1.54% 1.73% 1.44% 2020 Median Age 63.9 44.4 43.2

Households 1 Mile 3 Miles 5 Miles Average Household Income 1 Mile 3 Miles 5 Miles 2020 Total Households 1,804 18,868 55,759 2020 Average Household Income $144,525 $81,327 $84,302 2025 Total Households 1,912 19,837 59,132 2025 Average Household Income $155,674 $89,656 $92,807

2020-2025 Annual Rate 1.17% 1.01% 1.18% 2020-2025 Annual Rate 1.50% 1.97% 1.94% 2020 Average Household Size 1.74 2.41 2.29 Market Overview

Palm Beach County Hospitality

The Palm Beach hospitality market has strengthened as the Palm Beaches reaches its tenth consecutive year of record-breaking visitation numbers for 2019. Hotel performance data recorded 8.22 million visitors in 2019, which is a 2.5 percent increase over 2018, and generated an economic impact of $7.7 billion and supported 70,000 jobs throughout the County. Tourism is a powerful industry in Palm Beach County, accounting for 12 percent of the County’s economy, with 4 in 10 restaurants, 1 in 10 retailers, and 60,000 household relying on travel. One major driver of growth in Palm Beach has been the expansion of the meeting and conventions market, with convention center room nights increasing 606 percent from 7,500 in 2014 to 53,000 in 2019. Palm Beach is focused on its long-term economic strength with tourism at its core, supported by the County’s leisure, arts/culture, sports, beautiful cities, beaches, and other remarkable venues.

• Existing hotel rooms (2019): 17,400 rooms (=6,300,000 potential room nights) • Hotel rooms in construction (2019): 1,500 rooms (=546,000 potential room nights) • Occupancy rate (2019): 72% • Revenue per available room (2019): $133 • Average daily rate (2019): $185 • Visitors (2019): 8,220,000

• Hotel revenue: 41% drop from Dec 2019 to Dec 2020 125 Inlet Way | Colliers 27 South Florida Hospitality

The South Florida hospitality market has always reaching an occupancy of 83 percent in recent been one of the largest industries among the months and is on pace to break new records this Tri-County region (Miami-Dade, Broward, and summer. The Miami-Dade hotel market did better Palm Beach) and has been one of the highest than any other major market in the U.S. in January performing markets in the U.S. The coronavirus and February of 2021 with oceanfront hotels pandemic put a pause to travel and tourism as doing particularly well, reporting 80-90 percent countries and borders, along with individual occupancy on weekends. states, enacted closures and economic shutdowns to mitigate the spread of COVID-19. At one point, South Florida is attracting a lot of visitors due to its hotels were only used to lodge essential workers, tropical environment with clear, blue waters and like healthcare professional and first responders, warm, sunny weather. Tourists that are drawn to away from their families. Tourism has followed the Caribbean are coming to South Florida right the reopening of local economies and is slowly now as it offers many of the same attractions recovering as quarantine takes its toll on people but does not require a plane ride or crossing of and distribution of the vaccine continues. borders. Additionally, South Florida’s pandemic rules on bars and nightclubs are more lenient The pandemic has caused the worst decline than many other states attracting spring breakers. in history to occur in the tourism industry but There is a pent-up demand for travel and those is expected to come back even stronger post- who are fully vaccinated are taking the leap and pandemic as people are eager to get out of the going on domestic trips since they feel safe from area they’ve been in. Weekend leisure demand the virus but fear being stuck in a foreign country has picked up across the U.S., reaching more if borders were to close. Domestic tourism will than 50 percent occupancy on the weekends, continue to recover following a successful vaccine though urban areas recovery is lagging as people distribution in the U.S. with international tourism continue to try to keep their distance. For that expected to pick-up later after the fear of closed same reason, the short-term rental market is borders due to the coronavirus are long gone. doing better than the traditional tourism market Multifamily Market Fundamentals Multifamily Market Fundamentals $1.80 97.0% $1.60 Submarket Overview 96.0% $1.40

$1.20 95.0%

$1.00 94.0% Northern Palm Beach County Multifamily Market $0.80 Rent PSF Rent Occupancy $0.60 93.0% Over the past five years, market fundamentals in the Northern Palm Beach $0.40 92.0% County multifamily submarket have been volatile with limited new construction $0.20 and demolition of older buildings. This combination has caused occupancy rates $0.00 91.0% Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 to fluctuate dramatically over the last five years though they continue to remain 2015 2016 2017 2018 2019 2020 above 90 percent. The submarket ended 2020 with an occupancy rate of 96.3 North Palm Beach County West Palm Beach-Boca Raton-Delray Beach, FL percent, 100-basis points above the 2015 rate, and 190-basis points above the North Palm Beach County West Palm Beach-Boca Raton-Delray Beach, FL five-year average. Monthly Rental Rates The average monthly rental rate ended 2020 at $1,756, 2.9 percent higher than Monthly Rental Rates the West Palm Beach County monthly rental rate of $1,707. The North Palm $2,000 $1,800 Beach County submarket is one of the more luxurious submarkets in Palm Beach $1,600 $1,400 County and a tighter supply submarket pushing rental rates up. Additionally, $1,200 $1,000 the tighter supply in the submarket contributes to an occupancy rate (96.3 $800 $600 percent) 90-basis points higher than the Palm Beach County rate (95.4 percent). $400 $200 Furthermore, annual rent changes have been remained positive year-over-year $0 and recorded a 1.3 percent annual increase at the end of 2020. Meanwhile, Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2015 2016 2017 2018 2019 2020

County-level rental rates grew by 1 percent year-over-year. North Palm Beach County West Palm Beach-Boca Raton-Delray Beach, FL Two new developments are currently under construction and expected to deliver Supply and Demand Palm Beach County to the submarket in 2021 adding 386 units. Lenox North Beach (250 units) in Supply and Demand North Palm Beach began construction at the end of 2019 and is expected to 122,000 96.0% 120,000 deliver at the end of 2021, similarly, Solera at City Centre (136 units) in Palm 95.5% 118,000 95.0% Beach Gardens began construction at the beginning of 2020 and is expected to 116,000 deliver at the end of 2021. Despite concerns surrounding the impact of COVID-19, 114,000 94.5% occupancy rates are expected to remain in the mid-to-high 90 percent range. 112,000 94.0% 110,000 93.5% Longer term, the outlook is positive as the region’s demand drivers, specifically 108,000 93.0% tourism and retail, are expected to rebound. Additionally, migration patterns are 106,000 104,000 92.5% expected to boost population growth as the impact of tax laws entice relocations Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 from high-tax northeastern states to Florida where there is no state income tax. 2015 2016 2017 2018 2019 2020 Inventory (Units) Occupancy 125 Inlet Way | Colliers 29 Condo Market Statistics - Palm Beach County Riviera Beach Luxury Condo Market 2020 2019 Y/Y % Change The popularity of the Riviera Beach condo market soared in 2020, as seen by the Closed Sales 13,347 13,398 -0.40% 24.5 percent jump in the number of closed sales and the 57.8 percent increase in sales price. The sales activity by far exceeds the county wide averages with almost Closed Sales Paid in Cash 7,039 7547 -6.70% double the dollar volume of sales in 2020 at $345.7 million; meanwhile, countywide, Median Sale Price $205,000 $182,000 12.6% dollar volume of sales increased only 8.5 percent. Inventory is also faster to go under Average Sale Price $336,637 $308,974 9.0% contract, compressing to just 59 days median time to contract in 2020. Additionally, Dollar Volume $4.5 Billion $4.1 Billion 8.5% the months supply of inventory compressed 27.6 percent to 6.3 months. % of Original List Price Received 94.4% 93.30% 0.5% Median Time to Contract 49 Days 55 Days -10.9% 2020 Luxury Condo Market ($500K+) New Listings 19,706 19,207 2.6% Riviera Beach Palm Beach County New Pending Sales 15,691 15,083 4% Closed Sales 27 1,259 Pending Inventory 2,285 1,616 41.4% Median Sale Price $669,000 $820,000 Active Inventory 5,140 5,892 -12.8% Average Sale Price $762,900 $1,229,244 Months Supply of Inventory 4.6 5.3 -13.2% Median DOM 59 75 Condo Market Statistics - Riviera Beach 2020 2019 Y/Y % Change Closed Sales 468 376 24.5% Northern Palm Beach CountyNorth Supply Palm Beach and County Demand Supply and Demand Closed Sales Paid in Cash 226 164 37.8% 18,000 97.0% Median Sale Price $370,000 $302,500 22.3% 17,900 96.0% Average Sale Price $738,766 $468,090 57.8% 17,800 95.0% 17,700 Dollar Volume $345.7M $176M 96.4%

17,600 94.0% % of Original List Price Received 95.2% 94.3% 1% 17,500 93.0% Median Time to Contract 59 Days 98 Days -39.8% 17,400 92.0% New Listings 685 609 12.5% 17,300

17,200 91.0% New Pending Sales 552 436 26.6% Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Pending Inventory 99 90 10% 2015 2016 2017 2018 2019 2020 Inventory (Units) Occupancy Active Inventory 247 273 -9.5% Months Supply of Inventory 6.3 8.7 -27.6% Recent Condo Developments

Photo Credit: https://www.vistabluesingerisland.com/ Photo Credit: https://www.amritocean.com/residences/

VistaBlue Amrit VistaBlue consists of fifty-eight beachfront residences with just four residences per Amrit’s two towers, Peace and Happiness (consisting of 155-guestrooms) are floor and nineteen total floors, this distinctive residential community is a unique nestled on Palm Beach County’s picturesque Singer Island. And though this mix of elegance and refined relaxation. Residents will enjoy true indoor/outdoor secluded location is removed from South Florida’s hustle & bustle, Amrit is central living with ocean breezes and water views from every home, adding more richness to the best the area has to offer. Just minutes from posh Palm Beach Island, lively to the quality, design, finishes and amenities that sets VistaBlue apart. West Palm Beach and elegant Palm Beach Gardens. Amrit is a convenient home

Set upon a pristine and expansive beach, the homes of VistaBlue Singer Island base for the area’s finest shopping, dining and entertainment—and just twenty elevate the typical beach residence to a higher level of sophistication. Spacious minutes from Palm Beach International Airport. three- and four-bedroom floorplans deliver a sense of grandeur and space, while Amrit’s 100,000 square feet of cutting-edge wellness offerings including the only smart layouts provide separate areas for privacy and entertaining. Floor-to- indoor/outdoor hydrothermal experience in Florida spanning 40,000 square feet ceiling windows capture limitless views from every room, while ample terraces and features heat therapy, cryotherapy and hydrotherapy through a sequence of welcome outdoor living, making every detail at VistaBlue to be perfectly crafted to hot and cold bathing pools, a Hydro-Reflexology Path, lap pool, salt therapy, Arctic complement the way you live. Chill fountains and an effusion shower.

https://www.vistabluesingerisland.com/ https://www.amritocean.com/residences/ 125 Inlet Way | Colliers 31

Photo Credit: https://www.5000nocean.com/ Photo Credit: https://www.realtor.com/realestateandhomes-detail/106-Inlet-Way-Apt-103_Palm-Beach-Shores_FL_33404_M58248-19337

5000 N Ocean 106 Inlet Way Behind its manned and gated entry, residents will enjoy the serenity of a modern, This ultra-luxury property on Singer Island feature only two residences per floor contemporary lifestyle. Rising 19 floors above the Atlantic Ocean and the with breathtaking direct Atlantic Ocean, Palm Beach Oceanfront and Intracoastal Intracoastal Waterway, 5000 North Ocean boasts an enviable 340 feet of direct Waterway views from every room. Palm Beach oceanfront. https://www.realtor.com/realestateandhomes-detail/106-Inlet-Way-Apt-103_Palm-Beach-Shores_FL_33404_M58248-19337 These 48 luxury residences are ideally located on Singer Island, close to the world- class golf, dining, shopping and entertainment of Palm Beach Gardens and PGA Boulevard. https://www.5000nocean.com/ Market Drivers

Growing Population top companies having a significant presence in the undergoing a major transformation adding hotel, area such as UBS, JP Morgan Stanley, Merrill Lynch, office and residential offerings for round the clock Population growth across South Florida has exceeded and Charles Schwab. Furthermore, West Palm Beach patrons. Other popular shopping destinations the national average for years, but of the three was ranked by Forbes Magazine as the #1 city in throughout the County include Worth Avenue major metros, Palm Beach’s population is growing Florida for business and careers. Its ease of access, featuring designer stores, high-end shops and some the fastest. Over the last five years, Palm Beach excellent public transportation infrastructure, of the finest gourmet restaurants in South Florida. County’s population grew 6.6% while Miami-Dade and abundance of nearby amenities are attracting and Broward grew 3.0% and 4.7%, respectively. investors and executives alike to this surging market. Pristine Beaches Additionally, in the next five years, Palm Beach’s The West Palm Beach central business district Palm Beach is home to nearly 30 tropical beach population is expected to grow 6.8% while Miami- provides corporate headquarters to some well- parks spanning 47 miles along the Atlantic Ocean Dade’s and Broward’s are expected grow 3.6% and known companies, including: Amazon Investment from Jupiter to the north and Boca Raton to the 4.5%, respectively. The migration of companies, Group, CRL Media LLC, Branding Arc Inc, and Melchior south. The beaches cater to everyone’s preferences, specifically new finance and investment firms, from Investments LLC. Other businesses including law from the dog-friendly beaches of Ocean Cay Park in Northeastern tax-burden states to South Florida firms, financial institutions and investment firms Jupiter and Atlantic Dunes Park in Delray Beach, to was accelerated by the pandemic as seen in recent drawn to the CBD include Greenspoon Marder PA, the entertainment-oriented beaches found at the announcements by Goldman, Elliott Management, RBC Wealth Management, Holland & Knight LLP, and promenade at Singer Island Municipal Beach or the and Citadel; this influx has led to South Florida being Greenberg Traurig, LLP. famous pier at Lake Worth Municipal Beach. Peanut dubbed the “Wall Street of the South”. Palm Beach Island offers a peek at history where a former Cold County is welcoming new companies by offering Shopping and Dining War bunker for John F. Kennedy can be found. More excellent incentive programs and a flexible Business Palm Beach County is renowned for its world-class pristine beaches are located at John D. MacArthur Development Board. For a long time, Palm Beach has shopping malls and restaurants from countless Beach State Park in North Palm Beach and the family- been a second home for many executives and now chain stores to boutiques and luxury brands. In Palm friendly waters at Carlin Park in Jupiter and Red Reef these same people are relocating their businesses Beach Gardens alone, shoppers can choose between Park in Boca Raton. For the more adventurous visitor, here. These moves are driven by a number of push multiple upscale shopping center offerings including there are popular snorkeling spots at Coral Cove and pull factors, but the most prominent are the tax The Gardens Mall, anchored by high end stores like Park in Tequesta and the Underwater Snorkel Trail at incentives, cost of living, and quality of life that Palm Nordstrom Rack and Saks Fifth Avenue as well as Phil Foster Park in Riviera Beach, as well as manatee Beach offers, with COVID-19 being the final push for 160 other stores; District at the Gardens, an outdoor spotting sites at Loggerhead Park in Juno Beach. many. lifestyle center offering enticing retail, restaurants, Thousands of visitors are attracted to the Palm A Thriving Business Center a movie theatre and outdoor entertainment; as well Beaches postcard perfect sandy shores each year. as PGA Commons offering a mix of award-winning Palm Beach County is among the nation’s leading restaurants, upscale boutiques, galleries, offices, and centers for the financial services industry with many apartments. Downtown at the Gardens is currently Market Drivers 125 Inlet Way | Colliers 33

Florida’s Golfing Capital LLC, Branding Arc Inc, and Melchior Investments LLC. Other businesses including law firms, financial There’s an endless supply of public and private institutions and investment firms drawn to the golf courses in Palm Beach leading many to call the CBD include Greenspoon Marder PA, RBC Wealth County the world’s golfing capital. With many of the Management, Holland & Knight LLP, and Greenberg world’s greatest golfers living in the County, Palm Traurig, LLP. Beach boasts more than 160 courses with year-round tee times, breathtaking views and courses designed Port of Palm Beach by some of the best architects in the game. Located Palm Beach International Airport (PBI) is a public in Palm Beach Gardens is the PGA National Resort airport just minutes from Downtown West Palm and Spa featuring 90 holes across five championship Beach with more than 200 daily non-stop arrivals courses, including the famed Champion course and departures to 34 destinations on 11 airlines, designed by Jack Nicklaus and its “Bear Trap” that with connecting service to destinations throughout hosts the PGA Tour’s annual Honda Classic. Other the world. The airport saw 6.9 million passengers in famous courses throughout the County include 2019, an increase of 6% in passenger counts from The Bear’s Club, The Fountains Country Club, the 2018. The airport is linked to the Palm Tran Bus line Breakers Ocean Course, and North Palm Beach with free shuttle service to the Tri-Rail system. Palm Country Club. Beach International Airport (PBI) is ranked in the top Arts and Cultural Attractions 5 favorite medium domestic airports in the first-ever Travelers’ Choice Favorites awards for U.S. Airports. Beyond the scenic beauty of Palm Beach, the County is dotted with world-class museums and galleries, award-winning theaters and Broadway performances from Jupiter down to Boca Raton. Creative attractions abound in Palm Beach with year-round events held at the West Palm Beach Arts and Entertainment District and Harbourside Place in Jupiter, concerts at the Kravis Center for the Performing Arts in West Palm Beach, Tony Award winning musical performances at the Maltz Jupiter Theatre, and cabaret at the Crest Theatre in Delray Beach. known companies, including: Amazon Investment Group, CRL Media Contact us:

Bastian Laggerbauer Director +1 561 281 6656 [email protected]

Mark Rubin Executive Managing Director +1 561 549 9452 [email protected]

Harry Blyden Executive Director +1 305 779 3176 [email protected]

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