Palm Beach investor buys office building on Bankers Row

Crocker Partners sold the boutique building at 400 Royal Palm Way

Miami /
Mar.March 15, 2018 08:45 AM

400 Royal Palm Way and Crocker’s Partners Angelo J. Bianco

Crocker Partners just sold an office building on Palm Beach’s Bankers Row to a local investor for $14.75 million, property records show.

Kinsale Partners LLC, led by Palm Beach investor Thomas C. Quick, paid about $520 per square foot for the four-story, 28,550-square-foot office building at 400 Royal Palm Way.

The tony strip of land along Royal Palm Way is home to a number of major banks and financial institutions. At 400 Royal Palm Way, tenants include the Palm Beach Daily News and the Palm Beach Chamber of Commerce. It’s 65 percent occupied, Quick said.

The Corcoran Group also recently inked a lease within the building and will be moving in soon, according to the Palm Beach Daily News.

Records show Crocker Partners paid $11.35 million for the two-parcel property in 2004. It sits on nearly an acre of land on the southwest corner of Royal Palm Way and Cocoanut Row.

The Quick family is well known in Palm Beach County and New York, where Quick’s father, Leslie C. Quick, co-founded the discount brokerage firm Quick & Reilly. In 1997, the company was acquired by Fleet Financial Services for $1.6 billion. It later merged with Bank of America in 2004.

His real estate holding company, First Palm Beach Properties, bought an assemblage of historic commercial buildings with business partner Michael McCloskey in 2012, and owns the building at 625 Flagler Drive.

HFF’s Hermen Rodriguez, Ike Ojala and Tracey Goo represented the seller.

In October, a Rhode Island real estate investment company paid $9.2 million for a nearby office building.


Related Articles

arrow_forward_ios
Bruce Percelay with 261 Nightingale Trail (LinkedIn, Google Maps, Getty Images)
Goldman Sachs rainmaker drops $16M on Palm Beach spec house
Goldman Sachs rainmaker drops $16M on Palm Beach spec house
1201 Brickell Bay Drive, Citadel's Ken Griffin and 830 Brickell office tower in Miami (Google Maps, OKO Group and Cain International, Illustration by Priyanka Modi for The Real Deal with Getty)
Mapping out Ken Griffin’s Miami shopping spree
Mapping out Ken Griffin’s Miami shopping spree
Todd and Kim Glaser with 125 Via Del Lago in Palm Beach (Google Maps, Illustration by Priyanka Modi for The Real Deal with Getty)
Seller’s remorse? Developer Todd Glaser buys back Palm Beach mansion for $23M
Seller’s remorse? Developer Todd Glaser buys back Palm Beach mansion for $23M
Frist Cressey Ventures Bryan Cressey with the property at 2315 S Ocean Blvd. in Palm Beach (Zillow, FCVentures, Illustration by Priyanka Modi for The Real Deal with Getty)
Venture capitalist sells oceanfront Palm Beach compound for $49M
Venture capitalist sells oceanfront Palm Beach compound for $49M
Citadel’s Ken Griffin and the former Neiman Marcus building at 151 Worth Avenue in Palm Beach (Citadel, Google Maps)
Ken Griffin’s South Florida state of mind: Citadel to open Palm Beach office
Ken Griffin’s South Florida state of mind: Citadel to open Palm Beach office
Rush and Kathryn Adams Limbaugh along with 1495 North Ocean Boulevard in Palm Beach (Getty Images, Zillow, iStock)
Rush Limbaugh’s oceanfront Palm Beach estate marketed for sale, asking up to $175M
Rush Limbaugh’s oceanfront Palm Beach estate marketed for sale, asking up to $175M
Ken Griffin, CEO of Citadel LLC, along with a rendering of his planned oceanfront estate in Palm Beach (Getty Images, Citadel LLC, iStock)
Here’s the oceanfront estate Ken Griffin plans to build for his mom in Palm Beach
Here’s the oceanfront estate Ken Griffin plans to build for his mom in Palm Beach
Lawrence Moens has represented many of Palm Beach's biggest-ticket buyers, including (L-R) : Larry Ellison, Steve Wynn, Ken Griffin and Donald Trump
Meet the mystery go-to agent for Palm Beach billionaires
Meet the mystery go-to agent for Palm Beach billionaires
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...