Pebb Capital and Sabal Investment Holdings (Sabal) acquired “The Press,” a mixed-use development in West Palm Beach, Fla. Between the acquisition and repositioning, Pebb Capital and Sabal will spend just under $80 million, including capital to improve the property. Located at 2751 S. Dixie Highway, it was purchased from Tricera Capital in an off-market transaction. Tricera secured a $50.75 million acquisition loan for The Press in 2021.

Capital improvements will include office building common area enhancements and completion of spec suites, as well as enrichments to the property’s landscape and hardscape to improve its street presence on Dixie Highway.

The 11.6-acre development, retrofitted from a former printing press and distribution facility, consists of 256,653 square feet of office and retail space with a developable 3.7-acre parcel presently used for parking. Tenants include The Palm Beach Post, Palm Beach Atlantic University, retail anchor Joseph’s Classic Market, Pink Steak, Starbucks, Restore, Tremble Pilates and Amped Fitness. 

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