Breakers Capital Pays $18.5M for Office Bldg

Miami-based Breakers Capital Partners acquired 1700 Palm Beach Lakes Blvd. for just less than $ 18.5 million or about $ 162 per-square-foot. CBRE arranged the sale of the property.

The 11-story Class A office building was constructed in 1988. It totals 113,953-square-feet and is located in the West Palm Beach Submarket, near the Palm Beach Outlets. The property was 87% occupied at the time of closing. Major tenants include the Internal Revenue Service…
South Florida Commercial Real Estate News From CoStar Group