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Marcus & Millichap Brokers $20M Sale of West Palm Office Property

Marcus & Millichap has arranged the $20 million sale of The Galleria International, a 42,263-square foot office property and adjacent 30,000 square-foot parking lot located at 301 Clematis Street and 300 Banyan Boulevard in West Palm Beach.

The property is a three-story building featuring retail on the ground floor fronting both Clematis Street and Olive Avenue with professional offices on the second and third floors. The buyer plans to gut renovate the interior and preserve the historic exterior of the existing building while creating a Class A office experience with high ceilings and large windows. Plans for the parking lot include a 12-story, 100,000-square-foot office tower on top of structured parking.

C. Todd Everett of Marcus & Millichap’s Fort Lauderdale office represented the sellers, Galleria International LLC and Safe Parking LLC, in the transaction. The buyer, Clematis Banyan Investors, was represented by Scott Geller of Marcus & Millichap’s New Jersey office.


Inside The Story

Marcus & Millichap’s Everett

About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.