CBRE has been exclusively engaged by Ivy Realty Services to lease and market a Class A office building in the prestigious Royal Palm Way corridor of Palm Beach.
With 25,000 square feet, 250 Royal Palm Way resides along the island’s “Banker’s Row,” which is home to some of the world’s most renowned names in banking, financial advisory and professional services.
“This building—which features the largest contiguous block of space available on the island—is poised to rank top of its competitive class in location, functionality and appeal. We expect 250 Royal Palm Way to draw terrific leasing momentum from tenants seeking space in the 1,200- to 12,000-square-foot range,” said Anthony Librizzi, CBRE First Vice President.
“Palm Beach island is one of the most exclusive office markets in the country, is particularly attractive to new-to-market financial services firms, private equity funds and hedge funds relocating from elsewhere in the country,” added CBRE South Florida Managing Director, Ken Krasnow.
Built in 1975, the office building is strategically located on the corner of Royal Palm Way and Hibiscus Avenue and hosts Northern Trust as an anchor tenant. A recent $3.5 million dollar renovation encompassed the façade, roof, air conditioning rooftop units, main lobby, elevators and 2nd and 3rd floor common areas.
Additional features of 250 Royal Palm Way include move-in-ready spec suites, a full floor ready for occupancy and signage, impact-resistant glass throughout the building, and garage parking with seasonal doorman and valet services.
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