Stephen Ross, Joseph Jacobs, Philip Braunstein, Jose, Diego, And Inigo Ardid Acquire Office At 1100 Banyan Boulevard For $40M

1100 Banyan Boulevard is a 70,131-square-foot office and TV studio located in West Palm Beach, encompassing 4.73 acres. The property was sold for $40 million, reflecting a price per square foot of $570. The transaction demonstrates a strong investment interest in the Banyan corridor as the market continues to develop.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $40,000,000
• Address: 1100 Banyan Boulevard
• Market: West Palm Beach
• Asset Size: 70,131 SF
• Price per Square Foot: $570
• Buyer: Stephen Ross - Related Ross; Joseph Jacobs & Philip Braunstein - Wexford Real Estate Investors; Jose, Diego & Inigo Ardid - Key International
• Seller: Adam Symson - The E.W. Scripps Company
• Brokers: Anna Schaffer, Joe Judge, Matthew McCormack & Simon Banke - JLL

The E.W. Scripps Company sold the property, retaining a lease for at least 2.5 years. The deal was facilitated by JLL, highlighting the buyer's strategy to invest in the expanding market of West Palm Beach.