Florida & Gulf Coast + South Florida + Office | January 24, 2023

15650 and 15700 Don Julian Road LLC has acquired the office/retail building at 2875 S Ocean Boulevard in Palm Beach, FL for $15 million.

Cushman & Wakefield Reps Both Side of $15M Palm Beach Office/Retail Transaction

2875 S Ocean Boulevard in Palm Beach, FL, a two-story mixed-use office/retail building, has traded hands for $15 million. The transaction equates to more than $491 per square foot for the 30,648-square-foot property.

Scott O’Donnell, Mike Ciadella, Dominic Montazemi, Miguel Alcivar and Greg Miller of commercial real estate services firm Cushman & Wakefield represented both the buyer and seller in the transaction. The property was sold by 2875 S Ocean Boulevard LLC and acquired by 15650 and 15700 Don Julian Road LLC, which according to O’Donnell plans to upgrade the asset and establish its East coast headquarters on site.

The 1982-constructed, Mediterranean-style building is situated along Highway A1A and offers water views of the Atlantic Ocean to the east and the Intracoastal Waterway to the west. The asset was 87% leased at the time of sale and is anchored by Symphony Workspaces and Acqua Café.

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Cushman & Wakefield's O'Donnell

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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