The Real Deal Miami

Office building on West Palm Beach’s Clematis Street sells for $3.2 million

November 27, 2012 11:15AM

314 Clematis Street

The 314 Clematis Street office building in downtown West Palm Beach has been sold for $3.2 million, according to CBRE, which was marketing the asset for sale. The seller was 314 Clematis 141, a limited liability company that is an affiliate of Ram. The buyer was PI-314 Clematis, another limited liability company. “The historic district in Clematis Street has experienced many ups and downs over the years,” said CBRE’s David Donnellan. “The area is on the verge of revitalization and is reflected by a few recent sales including 314 Clematis Street as well as new tenant activity on the street.” Donnellan and Todd Weintraub provided disposition services for the seller. The new owners have retained CBRE to lease the property. Joshua Nolan and Anthony Librizzi of the firm’s Palm Beach Gardens Office will handle that assignment. — Alexander Britell