Tortoise Properties Names/Brands ​Newest Mixed-Use, Multi-Family Development: TORTOISE ONE

New Website TortoiseOneApartments.com Now Live

WEST PALM BEACH, Fla. (October 25, 2022) – As construction progresses and gains momentum on its newest multi-family mixed-use residential development in downtown West Palm Beach, Tortoise Properties, LLC, a privately held commercial and residential company headquartered in Palm Beach County, has named and branded the Class A+ luxury apartment/retail community TORTOISE ONE. The two eight-story residential towers which sit on 2.5 acres at 740 and 840 North Dixie Highway will be connected by a floor-to-ceiling glass skybridge suspended over Eucalyptus Street. To share information and updates on TORTOISE ONE anticipated to open in spring 2024, Tortoise Properties has launched the website tortoiseoneapartments.com.

Upon securing a $88.5 million construction loan in July from Acore Capital, site work began for the development with 264 one and two-bedroom residences, 3,400+ square feet of retail space with frontage on Dixie Highway and 371 parking spaces. Amenities include:

• Beautifully landscaped resort-style pool with an expansive sundeck and hot tub/jacuzzi
• yoga lawn
• covered outdoor resident lounge with summer kitchen and barbecues
• state-of-the-art fitness center
• onsite mini market/juice bars
• coworking lab and private zoom rooms
• social clubrooms and resident lounges
• wellness meditative lounge
• indoor putting green
• professional pickleball courts
• outdoor park setting

“We chose the name TORTOISE ONE to celebrate the company’s initial mixed-use residential build in West Palm Beach. Our other legacy portfolio properties in Palm Beach County were acquired with great credit tenants in Main & Main locations,” shared Tortoise Properties President, CEO & Co-Founder Jake Geleerd. Tortoise Properties acquired the property with site-plan approval in place in December 2021 and obtained its permits and approvals to break ground in July.

The developer’s West Palm Beach headquarters at 711 North Dixie is across the street from TORTOISE ONE, from where Tortoise Properties executives can oversee all site construction and the property’s progress. Under the direction of Geleerd and his partner & co-founder and chairman Kelly Brannen, the TORTOISE ONE project team consists of MSA Architects (architecture), Verdex Construction (construction), EDSA (landscaping), Hensel Phelps (project management), Keshavarz & Associates (civil engineering), McNamara Salvia (structural engineering), WGI (engineering), Castle Residential (property management and leasing) and Managed Land Entitlements (entitlements and permitting).

Tortoise Properties Names and Brands Newest Residential/Retail Development/2/2/2/2

Two commercial-office properties in Tortoise Properties’ portfolio are co-owned and co-managed in partnership with another privately held real estate investment group, PEBB Enterprises. The
high-profile commercial properties are the Jupiter Innovation Center, Jupiter’s largest for-lease office building with 186,238 square feet of space that sits on 16 acres; and a 171,489-square-foot Class A+ office park located in The Park at Broken Sound, Boca Raton, Fla. that is home to ADT corporate headquarters.

For more information on TORTOISE ONE, and to register to receive property and leasing updates, visit tortoiseoneapartments.com.

About: Tortoise Properties

Tortoise Properties, LLC is privately held commercial and residential company headquartered in Palm Beach County that focuses on acquiring and developing legacy assets consisting of premier income-producing commercial office, multi-family and mixed-use properties in the South Florida region. Drawing upon more than 60 years of combined principal experience and expertise in asset valuation, acquisition, development, and management, leadership seeks and drives strategic, methodical development and long-term buy-and-hold investment opportunities. Founded by Jake Geleerd and partner Kelly Brannen in 2017, Tortoise Properties has earned an industry reputation for delivering strong ROI for partners and investors by developing, owning and operating highly desirable and safe places in which to live, work and play for a robust mix of office, residential and retail tenants. Recognizing the exponential value of building steadfast relationships, Tortoise Properties looks to work alongside strong local market partners to ensure long-term success for its properties, tenants and investors. Deliberate, with guiding principles of safety first and understanding that success it is not a sprint, but a long-term venture, Tortoise Properties will continue to lead the race. To learn more, visit TortoiseProperties.com.