KBS Sells Office Property in West Palm Beach for $40M
WEST PALM BEACH, FLA. — KBS Real Estate Investment has sold Emerald View at Vista Center, a two-building office property in West Palm Beach, for $40 million. A partnership including Vanderbilt Office Properties acquired the 139,471-square-foot property. Emerald View is situated near the Florida Turnpike and Okeechobee Boulevard within the 500-acre master-planned Vista Center. Vista Center is a mixed-use development that will include office, industrial, hotel and retail space. Emerald View was built to exceed hurricane requirements and provide 100 percent power for 25 days of “business as usual” operations. KBS made several upgrades and improvements to the property, including the construction of move-in ready speculative suites and enhancements to the building common areas and lobby. Christian Lee, Jose Lobon, Kevin Probel, Kevin McCarthy and Tyler Ploshnick of CBRE represented KBS in the transaction.