NNN – No New News – 8/14/20 – Florida sheriff funds $35,000-a-month luxury office with ‘the money we take from the bad guys’
WEST PALM BEACH, Fla. – Palm Beach County Sheriff Ric Bradshaw has leased an entire floor of a luxury office tower for himself and his top staff, paying a rate double that of less prestigious office space.
His four-year lease at DiVosta Towers — two new Palm Beach Gardens’ office buildings topped by distinct pyramid structures — costs $35,000 a month. With a one year option to extend, the ultimate bill would top $2 million.
The lease works out to $41 per square foot. Less opulent space could be rented for $15 to $20 per square foot, several real estate brokers told The Palm Beach Post.
The sheriff entered into the DiVosta Towers lease in December to prep for a $42 million renovation of his existing headquarters. The work, which includes gutting 75% of the 40-year-old structure, will force more than 300 employees to work elsewhere for several years.
So Bradshaw and 15 of his top executives will be working on their own 10,000-square-foot floor at DiVosta Towers, he told 1290 WJNO radio in July. The building is home to professional service businesses such as law offices and financial firms.
Sheriff’s office spokeswoman Teri Barbera later said the offices might eventually house more employees.
Longtime Palm Beach Gardens commercial broker John C. Bills said the price Bradshaw paid was average — “if they needed that high-end space and they needed the prestige.”
“If you need a fancy office in a high-rise office building, there are only a couple,” Bills said.
Gary Brodis of Atlantic Retail Group agreed that the price seemed average. Specific qualifications, like a security guard or front receptionist, might limit the options, he added.
Absent the Class A requirement, a 10,000-square-foot space is “not hard to find,” Bills said…….Read the rest at Yahoo.com