Digital Infrastructure Investment Firm To Relocate to Pebb Capital’s Mixed-Use Campus

Delray Beach, one of the quieter South Florida coastal areas situated between Fort Lauderdale and West Palm Beach, is about to become home to one of the top digital infrastructure investment firms in the country.

Publicly traded DigitalBridge is moving from its current office at 750 Park of Commerce Drive, a suburban office park originally built in 1986 and renovated in 2014, to downtown Delray Beach’s Sundy Village, a seven-acre mixed-use campus currently under development by Pebb Capital at 22 W Atlantic Ave.

Sundy Village, designed by Gensler, will feature 30,000 square feet of retail space, 180,000 square feet of offices, 268 underground parking spots and a parking garage. Pebb Capital began construction in February after securing a $173 million construction loan from Chicago-based Monroe Capital and JPMorgan.

DigitalBridge marks the third headquarters to expand or relocate to Sundy Village. In addition to DigitalBridge, developer Pebb Capital has made plans to relocate the company’s Boca Raton office, currently at 7900 Glades Road, to the new campus. Separately, Vertical Bridge, the largest private owner and operator of communication infrastructure in the U.S. and a subsidiary of DigitalBridge, secured 38,474 square feet of space at the village last year.

DigitalBridge, formerly known as Colony Capital, is an alternative asset management company that invests in digital infrastructure assets such as data centers, cell towers and other similar technologies. The company’s portfolio includes $80 billion of assets under management and 47 companies.

Earlier this year, the company was part of a $6.4 billion investment in Denver-based Vantage Data Centers. In 2023, another of DigitalBridge’s portfolio companies raised $533 million to invest in its data center capacity expansion.

The new office at 110 SE 1st Ave. will bring more than 300 employees to the area and be part of a collection of boutique offices at Sundy Village that range between 5,776 square feet and 12,600 square feet. Each building aims to offer the privacy of a single-occupant office, with direct elevator access from the parking garage and large outdoor terraces.

It will be at least another year before DigitalBridge moves into its new location. While part of Sundy Village is already under construction and expected to finish sometime in the third quarter, the DigitalBridge office won’t be completed until late 2025, a spokesperson for the developer told CoStar News.

Todd Benson, principal at Pebb Capital, noted in the release that DigitalBridge’s presence at the new downtown location would bring a “sizeable workforce and tremendous utilization of the projects amenity playground on a daily basis.”

Neither DigitalBridge nor Pebb Capital were represented by brokers in the deal, according to the developer’s spokesperson.

Source: Joshua Andino and Costar.com