Florida & Gulf Coast + South Florida + Office | May 2, 2022

JLL has closed the $35 million sale of 340 & 350 Royal Palm Way office buildings in Palm Beach, FL.

CS Ventures Pays $35M for Neighboring Office Buildings in Palm Beach

JLL has closed the $35 million sale of 340 & 350 Royal Palm Way, adjacent Class A office buildings totaling 44,625 square feet in Palm Beach, FL.

Ike Ojala, Hermen Rodriguez, Matthew McCormack, Max Lescano, Blake Koletic and Michael Roukis of JLL represented the seller, Pearlmark, and procured the buyer, CS Ventures.

340 features 20,813 square feet of space in a four-story building while 350 has five stories and 23,812 square feet of space. The 350 building is 100% leased while its neighbor is positioned for revenue increases through lease-up.

The properties sit along “Bankers Row,” which is home to wealth management companies, banks, law firms, hedge funds and private equity funds.

“The town of Palm Beach is a highly exclusive enclave that has seen tremendous in-migration of wealthy families and companies, resulting in high demand for the limited inventory of available office space on the island and strong investor interest,” said Ojala.

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JLL's Ojala

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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