JLL Capital Markets announced that it has closed the $35 million sale of 340 & 350 Royal Palm Way, adjacent boutique class-A office buildings totaling 44,625 square feet in Palm Beach, Fla.
JLL represented the seller, Pearlmark, and procured the buyer, CS Ventures.
340 Royal Palm Way features 20,813 square feet of office space in a four-story building while 350 Royal Palm Way has five stories and 23,812 square feet of office space. The 350 building is 100-percent leased and the 340 building is well-positioned for strong revenue increases through lease-up. In total, the properties offer 146 parking spaces in a mix of covered and surface spaces.
The properties are located in the exclusive city of Palm Beach along “Bankers Row”, which is home to numerous wealth-management companies, banks, family offices, law firms, hedge funds and private-equity funds. The buildings also are close to Palm Beach International Airport, Florida’s Turnpike and Interstate 95
