Saturday, March 14, 2015

Retail and Office Building in Downtown West Palm Beach, FL Trades for $10.4 Million


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

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