NY-Based Firm Tapped To Manage CityPlace Tower, Marks Return To South Florida

Property Group Partners has reportedly been named manager of the CityPlace Tower office building.
The appointment marks a return to south Florida for the New York City-based company that formerly operated as the Louis Dreyfus Property Group.
CityPlace Tower is located at 525 Okeechobee Blvd. in downtown West Palm Beach. With a total footprint of 295,933 square feet, the 18-story tower is the final component in a 72-acre mixed-use development that spans two city blocks that features 1.9 million square feet of residential, retail and office space to West Palm Beach.
Currently 95% leased, CityPlace Tower’s tenants include: INTECH Investment Management, Cleveland Clinic, Carlton Field Jorden Burt, Shutts & Bowen LLP, Regions Bank and Raymond James.
“At Property Group Partners, we pride ourselves on a commitment to offering world-class commercial real-estate products, together with hands on personal service, ensuring a superior tenant experience,” says Jeffrey Sussman, president at Property Group Partners. “There is no better way to mark our return to south Florida than with the addition of the celebrated CityPlace Tower, a building of exceptional design in an ideal location with unrivalled onsite services and amenities. We are honored to have such a building in our portfolio and look forward to expanding our presence in the region.”
Previously, the company owned Douglas Entrance in Coral Gables. Banyan Street Capital of Miami, in a joint venture with Oaktree Capital Management of Los Angeles, acquired the five-building project from Pearlmark Real Estate Partners of Chicago for $100,750,000, or $216 per square foot. The property was 82% leased to a diverse roster of tenants at the time of the sale.
 
Source:  GlobeSt.