CBRE to Manage Palm Beach County Office Complex

CBRE recently brokered the sale of Golden Bear Plaza, a three-tower property that features a variety of amenities including private exterior terraces and a fitness center.

By Timea Papp

Golden Bear Plaza in Palm Beach Gardens, Fla.

Golden Bear Plaza in Palm Beach Gardens, Fla.

Alliance Partners HSP, the East Coast operating platform of The Shidler Group, selected CBRE to oversee the property management of Golden Bear Plaza, a 245,673-square-foot office complex in Palm Beach Gardens, Fla. The three-building property changed hands in July when the new owner acquired it from Equus Capital Partners in a $62.3 million deal.

Patricia Nooney, senior managing director at CBRE Asset Services, will provide executive oversight to the property management team alongside Associate Director Bill Davis. Senior Real Estate Manager Michael Bowden will join CBRE from NAI Merin Hunter Codman and will continue to lead on-site operations at Golden Bear Plaza.

Solid tenant roster

Located at 11760, 11770 and 11780 U.S. Highway 1 on Palm Beach County’s Prestige Coast, the three-tower office center is 83 percent leased to approximately 40 tenants including Hilltop Securities, Tullis Health Investors of Florida, Ferreira Construction, FirstCity Bank of Commerce, Camden Capital and Citigroup, according to Yardi Matrix. Completed between 1985 and 1990 in partnership with Jack Nicklaus’ company, the property features private exterior terraces, a fitness center, on-site property management, an upgraded garage and covered parking.

“We are looking forward to managing this remarkable property and providing our client and tenants with an increased level of service,” said Nooney, in prepared remarks. “Our team is excited to partner with the new owners to execute on their new vision and goals for the property,” she added.

Image courtesy of Yardi Matrix

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