March 2, 2021 – PALM BEACH GARDENS, FLA –Virtu Financial, a leading provider of financial services and products that leverages cutting edge technology to deliver innovative, transparent trading solutions to its clients and liquidity to the global market, announced plans to expand to the DiVostaTowers located in Palm Beach Gardens, FL. The news comes after the company worked with CBRE, the Business Development Board of Palm Beach County (BDB), Gatsby Enterprises, and Tower CRE during the past year to facilitate the expansion.
The newly leased 10,019 square-foot office space will host executives, salespeople, traders and technology staff.
The DiVosta Towers in Palm Beach Gardens has lured financial service titans to its Class A office space in the state-of-the-art, 11-story luxury office towers, which have a combined 220,000 square feet of space. The Towers were purchased in 2020 by New York based Gatsby Enterprises, LLC who is leading the charge in tenanting the state-of-the-artbuildings with qualified tenants. The towers offer unobstructed panoramic views of Palm Beach Gardens, floor to ceiling glass windows, a 4 story parking garage with a 4:1 parking ratio and electric car charging stations, common area conference rooms with catering kitchens, tenant controlled and dedicated HVAC and is located across from Downtown at The Gardens and within miles of the best golf courses in South Florida.
Virtu Chief Executive Officer Doug Cifu, who is co-owner of the Florida Panthers NHL team, said, “In the past year, we have witnessed the success of working remotely. At Virtu we have used this experience to diversify our office footprint outside of New York City. Opening a substantial office in Florida makes perfect sense for Virtu. The business and economic environment, growing population and infrastructure make it an obvious choice for our growing business.”
Kevin Probel and Kevin McCarthy of CBRE represented Virtu Financial in the deal and Michael I. Lenchner with Sage Realty acted as Virtu Financial’sReal Estate Consultant. Constance D. Thomas and Jon Blunk of Tower CRE represented Gatsby Enterprises. The Business Development Board of Palm Beach County (BDB) assisted Virtu Financial with incentives, expedited permitting, relocation orientation for employees, and residential real estate needs.
“CBRE is pleased to have represented Virtu Financial in its expansion to Palm Beach Gardens,” said Kevin Probel, First Vice President with CBRE. “This deal marks continued momentum for Northern Palm Beach County, which has shown incredible resilience through the pandemic. Northern Palm Beach County now is seeing an influx of new residents and significant interest from out-of-market tenants, especially financial and technology firms.”
“Palm Beach County has long been coined “Wall Street South” luring a wide array of financial service firms out of Boston, Connecticut and New York. We enjoyed working with Virtu Financial and their employees in the relocation process and know that they will become fully engaged in all aspects of our community. Virtu joins a group of over 70 financial service firms who have made the decision to ditch the high taxes and snow for sunshine and a business-friendly environment. A special thank you to City Manager Ron Ferris and the Director of Planning and Zoning Natalie Crowley for expediting all processes with the City of Palm Beach Gardens,” said Kelly Smallridge, President and CEO, Business Development Board of Palm Beach County.
“We are delighted and honored to have Virtu Financial in the North Tower and look forward to welcoming other qualified tenants in the buildings,” said Isaac Shalom, Gatsby Enterprises, LLC. Gatsby Enterprises, LLC is a family owned and operated real estate company focused on client relationships and prides itself on the management of its assets. Gatsby employs a hands-on approach to all the factors of its business which aided to get this deal done with Virtu Financial.
“The Palm Beach County office market continues to see an uptick in activity, a majority of which are companies located in dense urban cities such as New York, Boston and Los Angeles flocking to the County. This wave of new to market tenants doesn’t appear to be slowing down,” stated Jon Blunk, President, Tower CRE. “I am excited to be working with such experienced hands-on owners like the Gatsby team on continuing to represent DiVostaTowers to meet this growing demand.
About Virtu Financial, Inc.:
Virtu is a leading financial services firm that leverages cutting-edge technology to provide execution services and data, analytics and connectivity products to its clients and deliver liquidity to the global markets. Leveraging its global market making expertise and infrastructure, Virtu provides a robust product suite including offerings in execution, liquidity sourcing, analytics and broker-neutral, multi-dealer platforms in workflow technology. Virtu’s product offerings allow clients to trade on hundreds of venues across 50+ countries and in multiple asset classes, including global equities, ETFs, foreign exchange, futures, fixed income and myriad other commodities. In addition, Virtu’s integrated, multi-asset analytics platform provides a range of pre and post-trade services, data products and compliance tools that clients rely upon to invest, trade and manage risk across global markets.
About CBRE Group, Inc.:
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About the Business Development Board:
The Business Development Board of Palm Beach County is the official public/private economic development organization for Palm Beach County and Enterprise Florida. Founded in 1982 as a not-for-profit corporation, our primary purpose is to attract and retain new industry, business investment, high quality jobs and workforce development through corporate relocations, expansionsand international trade. During the past five years, the BDB has assisted companies that have created more than 12,822 direct jobs with average salaries greater than $69,062, resulting in more than $777 million in capital investment to Palm Beach County and an economic impact that exceeds $6.87 billion. The BDB’s highest level investor partners include Carrier, Florida Power & Light, LRP Media Group, Stiles Nicholson Foundation, Suffolk, Tortoise Properties, and Wexford Capital. Additional information can be found at the BDB’s website, BDB.org.
About Gatsby Enterprises:
Gatsby Enterprises, LLC is a family owned and run company that has been in the Real Estate business for over 50 years. Gatsby prides itself on its management, leasing and construction capabilities delivering first class service to its tenants. Most recently, Gatsby expanded its holdings to South Florida with the acquisition of 800 Brickell Avenue in Brickell, Miami Florida in 2019. Since its first acquisition, Gatsby also purchased the DiVosta Towers in 2020 and is aiming to grow its footprint within South Florida with top-quality assets.
About Tower Commercial Real Estate:
Tower Commercial Real Estate (Tower CRE) is a leading privately held, full-service commercial real estate brokerage in South Florida. The firm’s multi-disciplined platform includes commercial landlord and tenant representation for Class A office assets in Central Business Districts and a variety of tier class properties throughout the tri-county region. Tower CRE takes pride in its reputation for providing outstanding client service and measurable results. With five offices in Miami, Fort Lauderdale, Boca Raton and West Palm Beach, Tower CRE’s highly seasoned team each brings extensive industry experience, expertise, market intelligence and resources that keep the firm at the forefront of all market activity, empowering clients with a strategic advantage to make informed real estate decisions. For more information, please call (305) 400-0760 or visit https://tower-cre.com.
