NOTABLE QUOTABLE
"The opening of our Palm Beach office is a strategic move that allows us to be even closer to our clients in a market that continues to see tremendous growth." — Nicolle Austin, COO, Americas, luxury yacht brokerage and charter company Burgess. Burgess already had an office in Miami.
HEALTH CARE
- Staffing company All Star Healthcare Solutions is relocating its headquarters to offices in Boca Raton that triple the square footage of its previous base in Deerfield Beach.
REAL ESTATE
- GL Homes paid $80 million to developer Minto Communities USA for a 192-acre tract in the Minto-built Westlake city in Palm Beach County, taking GL to 312 acres there. GL plans Silver Lake, a 1,000-unit single-family home community. GL earlier paid $29.4 million for a 120-acre site. Westlake itself is entitled for 4,500 homes and 2 million square feet of commercial space and includes a water park among other recreational facilities.
- Related Ross obtained $157 million in construction financing from GoldenTree Asset Management for waterfront condo Shorecrest, a 98-unit West Palm Beach luxury product.
- Mumbai-based MICL and Miami-based Admire Capital began pre-sales of the 83 condos forming their Ritz Carlton Residences, Fort Lauderdale Beach, on Bayshore Drive. The two-tower, 13-story project is scheduled for groundbreaking this year. Units start at $2.5 million. Douglas Elliman handles sales.
- Miami-based Related Group and Aventura-based BH Group broke ground on their Ritz-Carlton Residences, West Palm Beach, project. It will have 138 condos in a 27-story tower set for completion in 2028. Coastal Construction is overseeing construction.
SERVICES
- Crown Linen opened a 50,000-sq.-ft., 150-employee commercial laundry in Pompano Beach to serve hotels in Broward and Palm Beach counties. It already has an operation in Miami as part of its Florida network.
SENIOR LIVING
- Michigan-based developer Beztak began construction of All Seasons Delray Beach, a 153-unit senior living facility, scheduled for completion in 2028.
AVIATION
- Miramar-based after-market aviation distribution and repair company VSE Corp. will pay $2 billion in cash and equity to acquire Atlanta-based Precision Aviation Group, a 1,000-employee company that will take VSE to 60 locations globally and increase revenue by half.
BANKRUPTCY
- Golf legend Jack Nicklaus and TWG Global formed a group that paid $35.7 million to acquire, in a bankruptcy court proceeding, the businesses of Palm Beach Gardens-based Nicklaus Cos., which he founded a half century ago. Nicklaus had previously sued Nicklaus Cos. for defamation.
WASTE
- WM, formerly known as Waste Management, opened a $90-million recycling plant in Pembroke Pines, its largest plant company-wide with a capacity of 276,000 tons per year and 60-plus tons per hour. WM says it's investing $1.4 billion in 39 new and upgraded recycling facilities.
RESEARCH
- Florida Atlantic University won $4 million in separate federal awards for research involving defense, semiconductor workforce development and neurological disease.
FINANCIAL
- Cooper City-based BrightStar Credit Union appointed Stephanie Huddleston as COO. Her resume includes First Mountain Bank, Valley Bank and Trust, Premier Members Credit Union and UNIFY Financial Credit Union.
TRANSPORTATION
- The Florida Legislature renamed Palm Beach International Airport to President Donald J. Trump International Airport and set aside $5.5 million to cover renaming costs.
- Dania Beach-based Spirit Airlines, working its way through its second bankruptcy court reorganization, recalled 500 flight attendants and proposed selling 20 planes.
- Las Vegas-based Allegiant Air added routes from Fort Lauderdale-Hollywood International Airport to Chattanooga, Rockford, Ill., Rochester, N.Y., Albany, N.Y., and Trenton, N.J., while Utah-based Breeze added routes to Tallahassee, Jacksonville, Tampa, Birmingham, Ala., Charleston, S.C., Greenville-Spartanburg, S.C., Salisbury, Md., and Wilkes-Barre/Scranton, Pa.
The Two Towers
Developer Jeff Greene says he will complete his One West Palm residential, hotel and office project by year-end 2027. He agreed to pay the city $5 million if he misses the deadline. It includes 186 residences in two towers, 200,000 square feet of offices and a 200-room hotel.