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Downtown Development Site and Office Building For Sale

303 Banyan Boulevard – Urban Land and Office Building Offering
Downtown West Palm Beach, Florida

CapasGroup Realty Advisors, in collaboration with Cushman and Wakefield, is pleased to present 303 Banyan, an exciting,  41,152+ office building for sale in the heart of downtown West Palm Beach, Florida.  In addition to the 95% leased office building, this offering includes a 1.04-acre surface parking lot with extraordinary, mixed-use development potential.  Offering highlights are summarized below.

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Irreplaceable Location

  • Across the street from City Hall, the Palm Beach County Courthouse and Palm Beach County government center
  • One block from the famed Clematis Street entertainment and shopping district
  • Two blocks from the waterfront
  • Walk Score of 100 out of 100

Office Building Features

  • $2.5 million renovation (about $60/sf) completed in 2008
  • Unique upside revenue potential

Compelling Mixed-Use Development Opportunity

  • Flexible zoning permits a wide array of potential uses
  • Zoned FAR of 2.75; FAR can be increased to 3.75 using TDR’s
  • Highly expedited entitlement/approval process

Exciting, Emerging Market Environment

  • Institutional investors have been very active in Downtown West Palm Beach, recognizing the long term growth potential of this emerging market
  • Downtown West Palm Beach is immediately proximate to the island of Palm Beach, one of the wealthiest communities in the US
  • Forbes Magazine recently ranked downtown West Palm Beach as the “Top City in Florida for business and careers”
  • A recent Class A office building sale nearby for more than $500 per square foot supports feasibility
  • Over 400,000 square feet of expiring Class A office leases represents an excellent, captive leasing audience
  • Condo prices are increasing rapidly supporting new condominium development

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