1. Home
  2. Blog
  3. From Offices to Hotel? The Forum Building Sells for $20.5 Million

From Offices to Hotel? The Forum Building Sells for $20.5 Million

Posted by Brittany Bosher on Saturday, February 6th, 2016 at 11:51am.

IMAGE COURTESY OF THE PALM BEACH POST

The almost 279,000 square foot office building off of Palm Beach Lakes Boulevard that was once the top “business hub” in West Palm Beach has sold for $20.5 million.

The three building property was sold last week according to PRP Real Estate Investment to a Miami based owner. Crimson Peak LLC is a Miami based company and they have purchased the forum to potentially transform it from office buildings into a hotel.

The famous Forum building was built in the 1970’s when downtown West Palm Beach was much less developed and was in need of more office space. Recently, the Palm Beach Lakes area has gotten an economic boost from the addition and success of the Palm Beach Outlets making the investment property a potentially great spot for a new hotel.

The Forum buildings are located just across Congress Avenue from the Palm Beach Outlets, the mall that sold last year for $278 million.

Leave a Comment