Colliers Executive Vice President Mark M. Rubin and Senior Vice President Bastian Schauer of the South Florida Investment Services Team collaborated with Executive Vice President Gary A. Gottlieb in representing the seller in the transaction.
The travel technology company will relocate its headquarters from Downtown West Palm Beach.
Colliers’ Derek Baker, Gary A. Gottlieb, and Marc Fechter will lead leasing opportunities.
The building sold for $15.3 million.
The project will consist of a mixed-use retail and office, restaurant outparcels, a daycare and early learning center, as well as a 3-level parking garage.
The $14 million sale was an off-market deal.
The approved site plan encompasses over 405,000 square feet of office space in two buildings, four new retail and restaurant outparcel buildings totaling nearly 43,000 square feet, a nearly 37,000-square-foot luxury fitness facility and 500 multifamily units.
The property is currently 100% occupied and has historically operated at full occupancy during Urban Street Development’s ownership.
The property is being redeveloped into a mixed-use campus by Related Group, BH Group, and PEBB Enterprises.
The four-story, 93,219-square-foot boutique office building traded for $20 million.
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