According to the average rental rate for the local submarket in Cushman & Wakefield's second-quarter Palm Beach County office market report, the lease is estimated to be worth approximately $4.6 million.
The company, a specialty retailer of luxury items, including jewelry, precious gemstones, fragrances and other products, is owned by Tiffany and Co., one of the world's largest jewelry retailers, based in New York.
Tom Kates, president of Stiles Realty, a division of Fort Lauderdale-based Stiles Corp., represented the property owner, Marc Bell, in the transaction. David Browne and Mark Rubin of Julien J. Studley represented Little Switzerland Wholesale.
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