The Real Deal Miami

West Palm’s Esperante sold

December 10, 2008 09:34AM

One of West Palm Beach’s most prominent office buildings, the
246,000- square foot Esperante, is under contract with CB Richard Ellis
Investors, an independently operated affiliate of CB Richard Ellis Group. ING Clarion
Partners, a New York investment fund, sold the building. The price was
not confirmed, but ING originally sought a price of $115 million
when it put the building up for sale. Observers estimate a $70 million
price, a little less than $300 a square foot.