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Vanderbilt University receives approval for new downtown West Palm Beach campus

Vanderbilt University has received unanimous approval from the Palm Beach County Commission to establish a new campus in downtown West Palm Beach, marking a significant development for the area. This initiative is supported by a major land donation that includes two acres at 386 S. Tamarind Ave., along with additional properties on Evernia and Fern streets. The university is committing at least $300 million to the first phase of construction, which will focus on graduate programs in business, artificial intelligence, and feature an innovation hub aimed at fostering local business collaborations.


Projected to house around 1,000 students and employ over 200 full-time staff within five years, the campus is expected to have an annual operating budget of at least $70 million. Local leaders, including Kelly Smallridge, President and CEO of the Business Development Board of Palm Beach County, have expressed optimism about the campus’s potential to stimulate economic growth and attract corporate relocations. Smallridge noted that the prospect of Vanderbilt has already helped recruit a company that will bring 2,000 jobs to the area, emphasizing that “education is the currency of economic development.”


The land donation comes with stipulations: Vanderbilt must use at least 90% of the property for educational purposes, which includes student housing and research facilities. Outpatient health care and hotels are explicitly excluded from this usage. If these conditions are not met, the land could revert to the county.


Additionally, the development must address a prior agreement with Transit Village LLC, which holds a temporary license for using part of the land for parking and construction material storage. While the County Commission voted to revoke this license, they encouraged Vanderbilt and Transit Village to negotiate a new temporary agreement, as construction on the campus is not expected to begin for another year or two.


In terms of timelines, Vanderbilt has 180 days to conduct due diligence on the donated properties. Following this, the university will have 12 months—potentially extendable by another year—to finalize a master development plan. The total investment for the campus is anticipated to reach approximately $519.6 million, underscoring Vanderbilt’s commitment to contributing to the educational and economic landscape of West Palm Beach.

https://www.floridaoftomorrow.com/post/vanderbilt-university-receives-approval-for-new-downtown-west-palm-beach-campus

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Odd Burger Expands into Florida: 40 New Locations Planned

Exciting news for vegan food lovers! Odd Burger, the Canadian quick-serve vegan chain, is set to open 40 new locations across Florida over the next eight years. This announcement comes on the heels of their previous agreement to launch 20 locations in Washington state, adding to their current roster of 16 locations in Canada.


Odd Burger offers a diverse menu featuring vegan burgers, sandwiches, wraps, salads, breakfast items, and desserts, catering to a growing demand for plant-based dining options. Their expansion strategy in the U.S. involves partnering with area representatives who have a deep understanding of local markets. These representatives play a crucial role in securing franchise partners, assisting with site selection, overseeing construction, and providing ongoing support.


The partnership with StarMatt Corporation, led by Prashant Dalal and Vishal Valsadia, marks a significant step in Odd Burger’s U.S. growth. Dalal, a co-founder of Odd Burger, brings expertise as the area representative for Ontario, while Valsadia offers valuable experience in real estate and commercial development.


Stay tuned for more updates as Odd Burger continues to make its mark in the fast-casual dining scene!


Boyd, Mike. “Vegan Burger Chain to Open 40 Florida Locations.” Connect CRE, 20 May 2024, www.connectcre.com/stories/vegan-burger-chain-to-open-40-florida-locations/.

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Florida: The New Frontier for International Business Expansion

By Commercial Brokers International

Florida’s dynamic business landscape is attracting international companies and brands at an unprecedented rate, creating exciting opportunities in the state’s commercial real estate market. As a worldwide trading hub and gateway to the Americas, Florida provides unique advantages that are drawing international investment and fueling economic growth.

Why Florida?

  1. A Thriving Economy

Florida’s economy is the fourth largest in the United States and the 14th largest globally, outperforming nations such as Indonesia and Spain. Florida offers a huge market opportunity for foreign enterprises, with a population of 22 million people and an economy worth more than a trillion dollars. (Source)

  • Strategic Location

Florida provides unmatched access to emerging markets as the main commercial gateway to Latin America and the Caribbean. The state is a great starting point for businesses wishing to reach throughout the Americas because of its advantageous geographic location and sophisticated multimodal infrastructure. (Source)

  • Business-Friendly Environment

Florida’s pro-business climate consistently ranks it among the most business-friendly states in the U.S. Key advantages include:

  • Low taxes and no income tax
  • Favorable regulations
  • Competitive costs of living and doing business
  • Skilled Workforce

Florida provides multinational businesses with a vast talent pool of highly educated, technically proficient, and culturally diverse workers, numbering 11.1 million. The state’s concentration on higher education, with 12 public universities, provides a consistent supply of skilled workers.

Florida stands out among other states for its thriving economy,
strategic location, and skilled workforce

Impact on Commercial Real Estate

The influx of international companies is having a significant impact on Florida’s commercial real estate market:

  • Office Space Demand

As more international firms establish their presence in Florida, demand for office space is likely to increase, particularly in major business hubs like Miami, Orlando, and Tampa.

  • Industrial and Logistics Growth

Florida’s role as a global trade hub is driving demand for industrial and logistics properties. International companies are seeking warehouse and distribution facilities to support their operations.

  • Retail Expansion

International brands entering the Florida market are fueling demand for retail spaces, from high-end shopping districts to mixed-use developments.

  • Technology and Innovation Centers

With Florida’s growing reputation as a center for innovation, international tech companies are likely to seek out spaces for research and development facilities.

Global businesses are rising in Florida commercial real estate market

Outlook and Opportunities

The future looks bright for Florida’s commercial real estate market, driven by international investment and remains open for business to the vast majority of international investors. The state’s economic development agencies continue to actively court foreign direct investment, offering resources and support for companies looking to establish or expand their presence in Florida.

For commercial real estate professionals, this influx of international business presents exciting opportunities. From helping companies find the perfect office location to developing state-of-the-art logistics facilities, there’s never been a better time to be in Florida’s commercial real estate market.

As Florida continues to attract global talent and investment, we can expect to see sustained growth and innovation in the commercial real estate sector. Whether you’re representing an international company looking to enter the Florida market or a developer seeking to capitalize on this trend, the Sunshine State offers a wealth of opportunities in the years to come.


If your business is looking to expand nationwide, our CRE Affiliate Network can help you smoothly extend your reach to multiple prosperous states in the country. The journey starts in Florida, and goes beyond.