Saturday, March 19, 2016

The Anthony Building in West Palm Beach, FL Sold for $4.19 million in Deal Brokered by Marcus & Millichap

The Anthony Building, 312 Clematis Street, West Palm Beach, FL
WEST PALM BEACH, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of The Anthony Building, a 23,078-rentable square foot retail and office property located on Clematis Street in the heart of West Palm Beach, Fla. 

The asset sold for $4,190,000 equating to $182 per square foot.

            “This was a unique investment opportunity in a strong barrier to entry location with excellent income and recognition on Clematis Street,” says Douglas K. Mandel, a senior vice president investments in Marcus & Millichap’s Fort Lauderdale office. 

“The property is poised to take advantage of the tremendous future growth and critical mass taking shape in West Palm Beach’s dynamic downtown area.”

Mandel and C. Todd Everett, a senior associate also in Marcus & Millichap’s Fort Lauderdale office, represented the seller, a limited liability company from West Palm Beach, Fla., and the buyer, an individual/personal trust from Miami.

Douglas K. Mandel
The Anthony Building is a five-story building consisting of prime, ground-floor retail space and loft offices.  The property, which was originally built in 1925 and completely renovated in 1998, is currently 97.5 percent occupied.

Located at 312 Clematis Street on the east end of the downtown shopping and dining district, the Anthony Building is approximately one block from Flagler Drive and the intracoastal waterfront.

For a complete copy of the company’s news release, please contact:

Ryan Nee
Vice President / Regional Manager
 Fort Lauderdale, FL
(954) 245-3400

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