Palm Beach, FL – February 8, 2013 – (RealEstateRama) — As more private equity firms and hedge funds housed in Wall Street explore South Florida for its abundance of high-net worth individuals, the owners of 218 Royal Palm Way are gearing up to offer a unique office location on the prestigious ‘Bankers Row’.
Axel Pinto Quintero is the managing director of 218 Royal Palm Way, LLC. He understands the Palm Beach office submarket will grow this year and to benefit from that growth, he has hired CBRE to manage and market for lease his 12,800-sq.-ft. office building.
“The property is the only single-user availability along the Royal Palm Way niche market, allowing for a unique opportunity for a prominent base in the wealthy Palm Beach community,” said Ken Krasnow, Managing Director for CBRE in South Florida. “We continue to receive inquiries from companies looking to relocate some or all of their operations to take advantage of all the attributes a location such as this provides.”
Ownership began making improvements to the property in early 2012 and will complete its program of improving and upgrading the property through the first quarter of 2013, at which time ownership will have expended more than $400,000. Improvements include a new roof, the installation of impact resistant windows, waterproofing and cosmetic upgrades.
The full building was occupied for more than eight years by an investment services firm and became available for lease when the tenant relocated.
Some of the most recognizable and credit worthy names in the banking, financial advisory and professional services industry are located within Bankers Row, such as JP Morgan, Barclays and UBS.
Marketing and leasing will be lead by CBRE Anthony Librizzi, Vice President and Joshua Nolan, Associate. CBRE Asset Services and Project Management will be led by Michele Pellico and Matthew Kiziah, respectively.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2011 revenue). The Company has approximately 34,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our Web site at www.cbre.com.
Marketing Director, FL
elizabeth.cross (at) cbre (dot) com
Marketing Specialist, FL
kelliann.mcdonald (at) cbre (dot) com