Tambone and Catalfumo sell office campus in WPB for $22.3M

Seller paid nearly $16M for the property and an adjacent building last year

Miami /
Aug.August 20, 2018 04:30 PM

2400 and 2410 Metrocentre Boulevard East and ICP Capital Partners Ondrej David

UPDATED, Aug. 21, 1:33 p.m.: A partnership between Tambone Companies and Catalfumo Companies just sold a former educational building in West Palm Beach for $22.3 million, after paying $15.75 million for the property and an adjacent building about a year ago.

The 65,770-square-foot building at 2410 Metrocentre Boulevard East sold fully occupied by an engineering company called Belcan. The engineering firm leased the space around the same time the partners picked up the two buildings last August.

The partners still own the neighboring 27,000-square-foot building at 2400 Metrocentre Boulevard East. The property is vacant, according to listing broker Tom Burst of Colliers International South Florida. It was formerly the Lincoln Culinary Institute, and can be redeveloped with a four-story office building of up to 80,000 square feet, according to marketing materials.

The buyer, Metrocentre Property, LLC, is an affiliate of ICP Capital Partners, a Czech Republic-based investment firm that focuses on real estate and private equity projects, according to its website. The deal marks its first in the U.S. The company is led by Marek Klaus and Ondrej David. Records show ICP financed the deal with a $13.5 million loan from JP Morgan Bank.

The selling entity, Tam-Cat 45th St, LLC, is led by Daniel Catalfumo and Richard Tambone, who has developed buildings for companies such as Sony, Motorola, Wartsila, Perrier and Wackenhut Corporation.

Colliers International South Florida’s Kevin McCarthy and Bastian Laggerbauer represented the partnership in the latest deal, as well as the purchase a year ago. McCarthy and Laggerbauer also brought the buyer.

Office rents in South Florida are on the rise. In the West Palm Beach market, overall asking rents rose to about $57 per foot in the second quarter, according a recent report from Cushman & Wakefield.

Correction: A previous version of the article misrepresented the number of properties that sold. 


Related Articles

arrow_forward_ios
(iStock)

South Florida resi sales jump in Q4: Elliman

South Florida resi sales jump in Q4: Elliman
303 Banyan Boulevard, West Palm Beach (Google Maps)

Woodfield buys land, scores $47M construction loan for West Palm multifamily tower

Woodfield buys land, scores $47M construction loan for West Palm multifamily tower
Phillips Point office towers with Related's Stephen Ross (JLL, Getty)

Related Cos. to pay $282M for West Palm Beach office towers

Related Cos. to pay $282M for West Palm Beach office towers
Hyperion Group CEO Rob Vecsler and 350 South Australian Avenue (Google Maps, M18 PR)

West Palm Beach multifamily project advances

West Palm Beach multifamily project advances
Kolleen OP Cobb and 591 Evernia Street (FECI, Google Maps)

New York Life buys Brightline West Palm apartments for $115M

New York Life buys Brightline West Palm apartments for $115M
Pamela Applebaum and The Bristol

Daughter of drugstore mogul sells Bristol condo unit for $16M

Daughter of drugstore mogul sells Bristol condo unit for $16M
Charles Cohen and 2000 S Dixie Hwy, West Palm Beach (Getty, Google Maps)

Charles Cohen’s Carefree Theater redevelopment advances

Charles Cohen’s Carefree Theater redevelopment advances
Tony Robbins and 2951 Electronics Way, West Palm Beach (Getty, Google Maps)

Tony Robbins buys West Palm Beach warehouse for production studio

Tony Robbins buys West Palm Beach warehouse for production studio
arrow_forward_ios

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

Loading...