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West Palm Beach Florida Real Estate | City Place 2.0 Is Coming

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In the 17 years since City Place first opened, it has struggled at times to thrive. The downtown West Palm Beach center has seen a revolving door of tenants, from restaurants to shops at times it has been tough to keep track of what places have come and gone. The staple though was always Macy’s. The 186,000-square-foot department store was the epicenter of the outdoor plaza.

That was until it closed in January as part of a nationwide downsizing by Macy’s of its retail shops as it switches its focus to online.

It seems though, that things are looking up for City Place though. The property’s developer and long-time owner, Related Cos, says it has bought back the Macy’s space, has resolved its issues with its lender and is positioning the mixed-use project for “City Place 2.0.”

City Place 2.0 will include a major makeover of that could include the addition of more office space. Specifics for the makeover weren’t laid out in detail, but Related Urban President and Chief Executive Kenneth Himmel said he predicted rents of $35 to $40 a square foot in the new office space, below the premium prices of $45 or so charged at West Palm Beach’s trophy towers.

“City Place 2.0 is about pivoting from the design as a lifestyle center to one of the country’s most exciting urban districts,” said Gopal Rajegowda, a senior vice president at Related. “We’re thinking about what that means.”

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