Bradford Allen Investment Advisors paid $45 million for One Clearlake, an 18-story Class A office tower at 250 S. Australian Ave. in downtown West Palm Beach, Fla. The S. Florida Business Journal reports the seller was a group of four, including Rockpoint Group, Tricera Capital, NDT Development, and New England Development. One Clearlake last traded for $60.7 million in 2021. The 221,661-square-foot tower is nearly 63% occupied.
Bradford Allen will provide asset and property management services for One Clearlake, and the company plans to invest an additional $10 million to complete a full renovation. The transaction marks Bradford Allen’s second office acquisition in South Florida following its purchase of 350 and 450 E. Las Olas Blvd. in Fort Lauderdale in February 2025. As with 350 and 450 E. Las Olas, Jon Blunk and Laurel Oswald of TCRE will handle the leasing for the property.
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