CBRE Arranges Sale Of Melbourne’s Rialto Place

Aug 22, 2018 No Comments by

CBRE announced it has arranged the $13.5 million sale of Rialto Place, a landmark, 150,962 sq. ft., 10-story, office tower in the heart of Florida’s Space Coast. The transaction closed on August 9. The seller was represented by CBRE’s Executive Vice President of Capital Markets Ron Rogg and Chip Wooten.

Located at 100 Rialto Place in Melbourne, the property has attracted several of the area’s most noteworthy tenants, including Apple, Northrop Grumman, Thales, Leidos and several others.

 

“Rialto Place garnered vast interest from the investor community given its high profile and for being one of the best value-add investment opportunities on the market,” said Ron Rogg, executive vice president at CBRE. “Also, there is a surge of corporate activity in the Florida Space Coast, and we are seeing Melbourne’s economy growing rapidly, with the tech and health care sectors are driving much of the expansion.”

Rialto Place is ideally located within the submarket, and further distinguishes itself by being adjacent to the Hilton Hotel – a 240-key hotel equipped with a full-service restaurant and bar, and the largest meeting facilities in south Brevard County. This amenity alone has attracted several corporate tenants to Rialto Place. In addition, the property has excellent access to Interstate-95, is minutes from Melbourne International Airport, and Palm Bay Road – one of Brevard’s largest retail corridors with an abundance of restaurants and shopping.

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