Loading

Case Study West Palm Beach Revival

Atlantic’s vision and entrepreneurial insight helped bring about a second act for a one of a kind site on Florida’s East Coast.

Situation

Originally developed by the DeBartolo Corporation, The Palm Beach Mall opened in 1967 as Florida’s first fully-enclosed regional mall and was the largest mall in the southeastern United States at the time. Throughout the 1970s and 1980s, the mall was a strong performer and featured such tenants as JC Penney, Lord & Taylor, Jordan Marsh, and Sears. However, the mall fell on hard times due to competition and the economic downturn, ultimately closing in 2010.

The Palm Beach Mall had fallen on hard times and was primed for a redevelopment

Result

Atlantic quickly recognized the opportunity presented by more than 80 acres adjacent to I-95 in one of Florida’s wealthiest counties. Atlantic’s Jupiter office worked closely with longtime clients, Eastern Real Estate and New England Development to acquire the real estate and negotiate buyout terms of the remaining tenants. With property control secured, Atlantic used its extensive project leasing experience to pre-lease the 300,000 SF Marketplace at the Outlets to tenants such as Whole Foods, Nordstrom Rack and Bed Bath & Beyond. The project opened in 2014 resulting in a $300 million economic impact to the community and making the site one of the most-visited shopping destinations in Palm Beach County.

More From Atlantic Retail

New Corporate Services Division Joins Atlantic Retail

New Corporate Services Division Joins Atlantic Retail

Led by three new partners, Atlantic Corporate Services will be based in Atlanta and offer advisory services to companies nationwide.

Read More
Atlantic Names Two New Principals in Boston

Atlantic Names Two New Principals in Boston

Atlantic Retail announced today that we have named Mike Alberico and Pat Gallagher as Principals in our Boston office.

Read More
Atlantic Names New Partner in Boston

Atlantic Names New Partner in Boston

Atlantic Retail announced today that we have named Jim Bagley as a Partner of the firm in our Boston office.

Read More
Atlantic Retail Names New Principal in West Palm Beach

Atlantic Retail Names New Principal in West Palm Beach

Atlantic Retail announced today that it has named Matthew Lynch as a Principal of its West Palm Beach office.

Read More