The David Associates Acquires Property In West Palm Beach For $29.25M With Jonathan Kingsley As Buyer's Rep

The property asset involved in the transaction is The Forum, consisting of two 10-story office buildings located at 1655 and 1665 Palm Beach Lakes Boulevard in West Palm Beach. The total square footage of the buildings amounts to 185,650 square feet. The price for the fee simple interest was $29,250,000. The area has a leasing rate of 90 percent, occupied by 40 tenants from diverse industries including healthcare, law, finance, and engineering.

Summary of transaction details:

• Property Type: Office Buildings
• Transaction Amount: $29,250,000.00
• Address: 1655 Palm Beach Lakes BLVD, West Palm Beach
• Market: West Palm Beach
• Buyer: The David Associates
• Buyer's Representative: Jonathan Kingsley - Colliers International
• Seller's Representatives: Marcos Minaya - CBRE, Amy Julian - CBRE

Christian Lee and Marcos Minaya of CBRE Capital Markets represented the seller, Triarch Capital Group, in this transaction. The CBRE Capital Markets team also included Amy Julian and Financial Analyst Tom Rappa. Marketing efforts were supported by Colliers International’s Jonathan Kingsley and Derek Baker, who manage the leasing for the property.