CBRE Executive Vice President John Criddle, First Vice President Joe Freitas, Senior Associate Max Pawk and Transaction Manager Allie Lancashire have been tapped to lease the buildings.
The JLL Capital Markets team representing the seller was led by Senior Director Maxx Carney and Managing Director Ike Ojala.
CBRE Executive Vice President John Criddle, First Vice President Joe Freitas and Transaction Manager Allie Lancashire signed the lease deals.
The property, which was 100% occupied, closed on May 12 for $11 million.
Northeastern investors continue to move their capital to the West Palm Beach office market.
The price equated to $267 per square foot.
A partnership between Ft. Lauderdale-based Mitchell Property Realty, Inc. and Atlanta-based Ridgeline Property Group acquired the property and plan on developing a 227,000-square-foot spec office, warehouse, distribution facility located inside Westlake Landings, a 50-acre master-planned business park located off Seminole Pratt Whitney Rd.
The portfolio consists of seven multi-tenant office buildings totaling 308,305 square feet.
1801 Building is now 97% occupied following the latest transactions; Infinity Sales Group moves into the company’s Park at Broken Sound building.
New ownership plans to spend north of $10 million in capital improvements to the property throughout 2022, including renovations to the lobby areas, corridors, and restrooms of Tower I, II and III. Additionally, they will be enhancing tenant amenities with a conference center, lounge, and state-of-the-art gym.