search

The Real Deal Logo

Trending

HGTV’s “Mr. Flip It” gets four years in jail for $10M fraudHGTV’s “Mr. Flip It” gets four years in jail for $10M fraudChetrits have a problem in PassaicChetrits have a problem in PassaicBank of Southern California puts Neil Shekhter portfolio up for saleBank of Southern California puts Neil Shekhter portfolio up for saleFitch cuts Blackstone Mortgage outlook to negative over office exposureFitch cuts Blackstone Mortgage outlook to negative over office exposure
South Florida

West Palm office complex up for sale

1601 Belvedere Road
1601 Belvedere Road

A West Palm Beach office complex is being marketed for sale as the current property owner fights a foreclosure lawsuit from its lender.

Sign Up for the undefined Newsletter

The 110,795-square-foot complex at 1601 Belvedere Road is set to be sold through a competitive bidding process with no minimum asking price, the Daily Business Review reported. The pair of five-story buildings at the property were built in 1983 and renovated 11 years ago. The Fort Lauderdale office of Avison Young is marketing the complex.

Owner Belvedere Investment Associates is in the midst of litigation with Wells Fargo Bank, which is serving as trustee for a group of lenders. Belvedere Investment filed a motion to dismiss the $9.9 million foreclosure complaint on Jan. 3. Palm Beach Circuit Judge Janis Keyser scheduled a March 25 hearing for the owner to make the case for not paying its lender. [Daily Business Review] — Eric Kalis

Tags
Avison YoungBanksWest Palm Beach