Done Deals: HFF closes sale of Class A office in West Palm Beach, FL

Saturday, August 2, 2008

HFF closes sale of Class A office in West Palm Beach, FL

MIAMI, FL – The Miami office of HFF (Holliday Fenoglio Fowler, L.P.) has closed the sale of 1400 CentrePark,(top right photo) a 95,935-square-foot Class A office building in West Palm Beach, Florida.

The HFF investment sales team was led by managing director Hermen Rodríguez, (middle left photo) executive managing director Manny de Zárraga,(middle right photo) director Ike Ojala (lower left photo) and associate director Luis Castillo who marketed the property on behalf of the seller, JP Morgan Asset Management. TA Associates purchased the property for an undisclosed amount free and clear of debt.

“TA Associates also purchased nearly 400,000 square feet within the CentrePark and CentrePark West in early 2006 in a transaction that was arranged by HFF,” said Rodríguez. “With this most recent acquisition, TA Associates continues to expand its presence in the CentrePark bu

siness park and office submarket.”

1400 CentrePark is situated on a 3.6-acre site along CentrePark Boulevard convenient to downtown West Palm Beach and Interstate 95. The property has 10 stories of office space that is 89% leased to tenants including Shoes for Crews, STH Architectural Group, HDR Engineering, FL Law Enforcement and the Army Corps of Engineering.

Founded in 1968, TA Associates is one of the largest and most experienced private equity firms. With offices in Boston, London and Menlo Park, the firm manages $12 billion in capital and has invested in more than 380 companies.

TA Associates leads buyouts and minority recapitalizations of profitable growth companies in the technology, financial services, business services, healthcare and consumer industries. More information about TA Associat

es can be found at http://www.ta.com/.

HFF (NYSE: HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.

HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, note sales and note sale advisory services and commercial loan servicing.