PALM BEACH, FL—In what brokers call an example of strong investor interest in income-producing assets with upside potential in promising locations, 314 Clematis Street has traded for $3.2 million. PI-314 Clematis acquired the asset from an affiliate of Ram.
David Donnellan, a first vice president with CBRE, along with Todd Weintraub, represented the seller. CBRE has also been retained by the new owners to provide leasing services. Joshua Nolan and Anthony Librizzi of CBRE’s Palm Beach Gardens office will lead the charge.
In noting the trend toward investors targeting assets like 314 Clematis Street, Donnellan tells GlobeSt.com CBRE also sold two centers in suburban Palm Beach County this year, west of West Palm Beach.
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