Joint Venture To Develop $500M Transit Village Mixed-Use Project In Downtown West Palm Beach
The project is expected to cost over $500 million to develop.
The project is expected to cost over $500 million to develop.
Anthony Librizzi of Cushman & Wakefield represented the buyer in the transaction and has been retained to oversee leasing at the property.
The building is currently 97% occupied.
Cushman & Wakefield secured $9 million in acquisition financing through Principal Life on behalf of the buyer.
The landlord was represented by Jeff Kelly and Owen Sagar of CBRE.
The deal equates to about $318 a square foot for the nearly 243,000-square-foot complex.
Butters Realty & Management office team of Caroline Fleischer, Darcie Lunsford and Sky Butters represented the law firm in the lease transaction.
The mission-critical facility will soon house approximately 900 employees that facilitate the billing, scheduling and telemedicine services for the healthcare group.
The team comes to CBRE from Cushman & Wakefield’s Boca Raton office.
The company is slated to take occupancy this month.
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