Pebb Capital Completes Phase I Of Sundy Village With 88% Of Project Leased
Sundy Village has now delivered 100,000 square feet of Class A+ office space and 30,000 square feet of retail and dining.
Sundy Village has now delivered 100,000 square feet of Class A+ office space and 30,000 square feet of retail and dining.
Colliers’ South Florida Investment Services Team represented the seller in the sale of the ±77,852-square-foot mixed-use property.
The transaction equated to one of the highest sales per square foot for an office building in the West Palm Beach Central Business District submarket within the last year.
Maesel has stepped into the role in order to elevate the entire team. With a ‘Deliberately Different’ approach to commercial real estate, the company places culture over production not only with the ROI Group but the rest of the company, which features six offices and nearly 50 advisors.
The transactions included numerous new leases and a sale transaction.
“The building was 84% leased at the time of sale, and with approximately 40% of the rentable square footage set to roll over in the next four years, new ownership has a compelling opportunity to drive significant net-operating income growth over the next decade,” said Douglas Mandel, IPA executive managing director investments.
Savills Managing Director Michael Wernick, along with Senior Managing Directors Lawrence Epstein and David Browne, represented the tenant in the transaction.
Joe Freitas and John Criddle of CBRE are handling office leasing at The Eclipse on behalf of the development partnership. The law firm was represented by Greg Katz, Carlyle Coffin and Shay Pope of Stream Realty Partners.
The Newmark team, led by Senior Managing Director Jeremy Hakala and including Managing Director Matt Himmelsbach and Director Brandon Shores, will lead leasing efforts on behalf of ownership.
The company will now occupy the entire top floor of 1489 W. Palmetto Park Road, totaling 30,000 square feet.
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