MHCommercial Real Estate Fund II Acquires Office Building In West Palm Beach For $32.5M

The office building located at 1641 Worthington Road in West Palm Beach has been sold. The property, with a total area of 100,525 square feet, was sold for a price of $32,500,000, resulting in a price per square foot of $323. The sale took place on April 1, 2022.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $32,500,000
• Address: 1641 Worthington Road, West Palm Beach
• Market: West Palm Beach
• Buyer: MHCommercial Real Estate Fund II (“MHCREF”); NAI/Merin Hunter Codman - Dung Lam, Neil E. Merin & Jordan Paul; Waterfall Asset Management (“Waterfall”)
• Seller: Ecoplex Partners
• Brokers: Christian Lee, Marcos Minaya, & Tom Rappa - CBRE

The buyer of the property was MHCommercial Real Estate Fund II (“MHCREF”), along with NAI/Merin Hunter Codman represented by Dung Lam, Neil E. Merin, and Jordan Paul, and Waterfall Asset Management. The seller in the transaction was Ecoplex Partners. The deal was facilitated by Christian Lee, Marcos Minaya, and Tom Rappa from CBRE.