The Real Deal Miami

CityPlace Office Tower sale closer

March 03, 2011 12:36AM

The sale of the CityPlace Office tower in West Palm Beach is expected to
close in mid-March, according to two sources familiar with the
property. Newport, Calif.-based KBS Realty Advisors has a contract to
purchase the property for $130 million. The tower, which cost $110
million to build, opened in 2008 and is a joint venture of Related and
Crocker Partners. It is currently around 90 percent leased, with tenants including  Carlton Fields and Raymond James. [SFBJ]