Florida Office Building
We represented the buyers of the Phillips Point Office tower along the downtown West Palm Beach, Florida waterfront. Our clients were two New York-based private, family-run, independent investment firms, the Winter Organization and Heller Properties. The buyer paid $138 million for the 425,000-square-foot tower. The seller was the State of New Hampshire through its pension fund adviser, Hart Advisors of Connecticut. At the time of the closing, the price was the highest ever per square foot in the Southeast United States. The reason for the high price, according to news reports, is the building's beauty, waterside perch and solid leases.