HFF closes $19.5 million sale of Palm Beach high-street retail and office building
MIAMI, FL – April 13, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $19.5 million sale of an 18,712-square-foot high-street retail and office building located at 313 1/2 Worth Avenue in Palm Beach, Florida.
HFF marketed the property on behalf of the seller, Tricony Management, LLC. The buyer purchased the retail center free and clear of financing.
313 1/2 Worth Avenue, known as Via BiCE, comprises five Mediterranean- and Spanish Colonial-style buildings that are situated along one of the intimate “Via” streets that connects to Worth Avenue, recognized by USA Today as the third “Favorite Iconic American Street.” The property is situated on .57 acres along Worth Avenue in a world class shopping mecca that includes preeminent designers such as Gucci, Channel, Hermes, Louis Vuitton, Salvatore Ferragamo and Cartier. Anchored by BiCE Palm Beach Ristorante, one of the strongest-performing restaurants within the chain, the property is 89.4 percent leased to a variety of retail and office tenants, including Acento Jewelry, David Chase, Haberdashery, DJT Fine Art, Eye of the Needle, Christie’s Real Estate, Washington Growth Strategies, Cashmere Beach and Cruciani. Construction dates back to the 1940s, with the buildings undergoing numerous updates over the years and the addition of the fifth building in 2000.
The HFF team that represented the seller was led by senior managing director Hermen Rodriguez, managing director Luis Castillo, director Eric Williams and associate Kim Flores.
About Tricony Management, LLC
Tricony Management, LLC is a commercial real estate brokerage company that owns and manage quality office properties. As a private, family-owned business that has operated exclusively in the state of Florida since 1993, the company has locations from Tallahassee to Orlando to Ft. Lauderdale and over a million square feet of quality office space. Tricony is a true Florida office specialist. Learn more at tricony.com.
Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.