3-Building Office Property In WPB Fetches $20.5 Million

Feb 03, 2016 No Comments by

Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $20.5 million sale of The Forum, a three-building, 278,367-square-foot office property in West Palm Beach.

HFF marketed the property on behalf of the seller, PRP Real Estate Investors and Panther Capital Management, LLC.

The Forum is located at 1655, 1665 and 1675 Palm Beach Lakes Boulevard at the intersection of Palm Beach Lakes Boulevard and Congress Avenue, one block east of Interstate 95. This “main and main” location is across the street from the newly opened Palm Beach Fashion Outlet Mall and has easy accessibility to the nearby amenities at CityPlace, Waterfront Commons, Downtown West Palm Beach and Worth Avenue. The Palm Beach International Airport is also within a 10-minute drive from the property.

Most recently renovated in 2013, The Forum consists of three 10-story buildings and a four-story parking garage.

The HFF investment sales team representing the seller included director Ike Ojala, senior managing director Hermen Rodriguez and associate director Jorge Portela.

 

“The Forum transaction continues the exciting renaissance of the Palm Beach Lakes corridor, which started with the completion of the Palm Beach Outlets adjacent to Forum and recent residential development in the area,” said Ojala. “We received strong interest from a broad pool of investors looking to take advantage of the marquis location and significant size of The Forum.”

 

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