Having earned the reputation in Florida and the southeastern U.S. for reimagining infill office properties in prime locations, Grover Corlew plans to invest in the building with upgrades to tenant space, common areas, landscaping and the façade.
Executive Managing Director Mark M. Rubin and Director Bastian Laggerbauer of Colliers | South Florida Investment Services Team represented the seller in the transaction.
The buildings total 60,000 square feet each and are accompanied by a half-acre auxiliary parking lot.
The new deals include an 18,842-square-foot 10-year lease with Valley National Bank, a 9,717-square-foot 10-year lease with Rosenbaum LLP and a 9,648-square-foot long-term lease with Morgan & Morgan.
The complex is 90 percent leased to 40 tenants from a variety of industries including healthcare, law, finance and engineering.
The three Class-A office buildings total 222,682 square feet.
Ownership is also planning extended wellness offerings for tenants. Currently the property offers complimentary weekly yoga classes, healthy snacks in the tenant lounge and a complimentary UBER service connecting One Clearlake to Downtown West Palm Beach.
Stigliano represented the Buyer, Castle Boca, LLC, in the transaction.
New York-based DRA Advisors bought the 1.7 million-square-foot office park
The firm moved from Palmetto Park City Center at 120 E. Palmetto Park Road.