 |
| 222 Clematis Street, Downtown West Palm Beach, FL |
 |
| Douglas K. Mandel |
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 222 Clematis St., a
32,564-rentable-square-foot retail and office building located in downtown West
Palm Beach, Fla.
The asset sold for
$10,365,000.
Douglas K. Mandel,
a first vice president investments, and C.
Todd Everett, a senior associate, both in Marcus & Millichap’s Fort
Lauderdale office, represented the seller, a limited liability company from
West Palm Beach, Fla., and the buyer, a New York-based private investor.
“Healthy economic growth and improving retail market
conditions, combined with a robust appetite for high street retail in premier submarkets,
will continue to attract out-of-state and cross-border investors,” says Mandel.
“Located at the epicenter of downtown West Palm Beach’s
high-energy Clematis Street block, this was a one-of-a-kind investment
opportunity in a strong barrier-to-entry location that is poised to take
advantage of the tremendous future growth and critical mass taking shape in the
dynamic downtown area.”
 |
| C. Todd Everett |
The property is a historic two-story building with prime
retail on the ground floor fronting Clematis Street and Olive Avenue with loft
offices on the second floor. Its tenants include Starbucks, Design Within Reach
and Rocco’s Tacos.
The building is surrounded by high-end retail shops, fine
restaurants and dynamic nightlife. Its prime location near Centennial Square and
the Meyer Amphitheater provides an endless supply of foot traffic throughout
the year.
For a complete copy
of the company’s news release, please contact:
Gina Relva
Public Relations Manager
(925) 953-1716
No comments:
Post a Comment