News And Press

PROCACCI BREAKS GROUND WITH CLASS "A" OFFICE SPACE HURRICANE RESISTANT TO 185 MILES PER HOUR

Not only is South Florida an ideal climate with its sunshine and warm weather, but the Palm Beach County offi ce market has continued to tighten over the past 24 months, as vacancy rates in downtown are reportedly reaching single digits. The West Palm Beach offi ce submarket has not seen signifi cant new construction in nearly fi ve years, helping to propel its already low vacancy rates even further. As a result, West Palm Beach has become a thriving corporate environment ready to welcome the onset of new construction.

Procacci Development Corporation is pleased to announce the fi rst wave of new construction in West Palm Beach with the groundbreaking of Emerald View at Vista Center located just west of Florida’s Turnpike on Okeechobee Boulevard. Emerald View at Vista Center will offer 180,000 square feet of class "A" hurricane-resistant offi ce space.

Innovative in design, each of these buildings will be constructed as hurricane resistant, able to withstand winds up to 185 miles per hour (a category five hurricane). Each building will place its HVAC equipment and 20,000-gallon diesel-engine generator in its own hurricane-resistant structure. The generator will provide power for up to 14 days in the event of a power loss, enabling companies to continue vital operations without suffering a major time deficit.

Phase I of the Emerald View at Vista Center project is well underway with the foundation, elevator shafts and stair towers in place as of last month. The tilting of the walls was completed as of April 1. The two 70,000- square-foot buildings are being constructed simultaneously and will feature four stories each with 17,500-square-foot fl oor plates and suites available from 1,000 square feet. Phase II will offer a 40,000-square-foot building with three stories of approximately 13,000 square-foot fl oor plates on a parcel located across Vista Parkway and adjacent to the new Palm Beach County Government Building, Planning and Zoning Department facility. Emerald View at Vista Center will have vast free surface parking at the rate of 4.4 per 1,000 square feet, affording employees and clients freedom from downtown garages with expensive and limited parking options. Not only will parking provide a signifi cant savings to individuals and businesses alike, but the location of Emerald View at Vista Center will provide more convenient accessibility to the office given its close proximity to downtown and the major thoroughfares of the county. The 2005 hurricane season set a record with 26 named storms causing signifi cant damage. While Katrina and Rita were especially unkind to the Gulf States, Wilma wreaked the most havoc on South Florida. On Oct. 24, 2005, Hurricane Wilma knocked out power for weeks, damaged thousands of homes and businesses, and left commercial and residential buildings with punched windows, shredded roofs and extensive damage in general. As most traffi c signals were lost and power lines downed, businesses were forced to close their doors for weeks. Small firms and large corporations were affected, with some businesses able to reopen their doors only to announce layoffs later to make up for lost earnings. Other large corporations combined work forces with satellite offices in the area to reduce losses. Yet a number of businesses were never able to reopen their doors for business due to the widespread power outages and damage sustained from this devastating storm. The common thread among businesses of all sizes: Downtime is a lethal ingredient to a successful business. The official start of the 2006 hurricane season is June 1. This season’s forecast calls for 17 named tropical storms, nine hurricanes and fi ve major hurricanes with winds exceeding 110 miles per hour. There is an 81 percent chance that at least one major hurricane will hit the U.S. coast this season. As forecasts point to increased intensity of hurricanes this season and over the next few decades, can you or your clients afford business downtime? Can your company afford not to consider the security of a hurricaneresistant, Procacci-built offi ce building? Consider the benefi ts of Emerald View at Vista Center. To learn more about this exciting leasing opportunity, please contact the Procacci Corp. at (561) 416-1400, ext. 150. The leasing team is vailable to answer any questions you may have and provide you with a formal presentation and tour of the Emerald View at Vista Center office project.

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