Colonnade Picks Up West Palm Office Complex
A nine-building West Palm Beach business park has been picked up by Colonnade Properties.
The firm, an affiliate of Grace Development and Flagler Realty, picked up Centrepark, a 480k SF project next to Palm Beach International Airport that includes a 10-story, Class-A office tower, three low-rise buildings and five single-story facilities from JP Morgan Asset Management for an undisclosed sum.
CBRE's Christian Lee, José Lobón, Amy Julian and Marcos Minaya brokered the deal for JPMorgan. The complex is 82% occupied, leased to tenants like Ocwen Financial, SV Microwave, Seacrest Services and EarthLink.