JLL Closes 45.7M Sale Of Downtown West Palm Property

JLL Capital Markets has completed the $45.7 million sale of echo, a recently repositioned, 71,694-square-foot mixed-use property in the heart of downtown West Palm Beach.

JLL represented the seller, Morning Calm Management, in the sale of the property to a confidential buyer.

Located at 205 Datura St., echo is positioned to take advantage of all that Palm Beach offers, including world class art and cultural venues, a signature waterfront, a growing residential and business community and two bustling shopping districts. The property is just a short walk from the Brightline train station and is conveniently located near Interstate 95 and the West Palm Beach International Airport.

Originally built in 1925, echo was repositioned in 2021 and offers Class A office space with approximately 10,000 square feet of ground floor retail and a 257-space parking garage. The boutique asset is 80% occupied by a variety of financial services firms, including Stone Point Capital, AltaRock Partners and Sound Point Capital. Upgrades to the property included a new lobby, conference center, new lounge, EV chargers and a new private courtyard.

The JLL Capital Markets team representing the seller was led by Managing Director Ike Ojala, Senior Managing Director Hermen Rodriguez, Senior Director Matt McCormack, Associate Blake Koletic and Analyst Hunter Smith.

“West Palm Beach is in the midst of a renaissance, with more than 4,000 luxury residential units, 1,000 hotel keys and nearly one million square feet of office development in the pipeline,” said Ojala. “echo is firmly positioned, particularly with its recent renovations, to benefit from this activity and the Wall Street South movement, which has seen numerous firms relocate to the area post-COVID.”