Colliers International Represents Owner in New Lease

Clearlake Plaza, a 10-story class A office building located at 500 S. Australian Avenue, is proud to welcome Stonegate Bank as its new tenant to a major portion of the building. The lease will also include signage rights atop the building, branding it the Stonegate Bank Building.

The 5,588 square foot lease includes a bank on the first floor along wth administrative offices. Stonegate Bank has a strong foothold across several Florida markets but chose the property for its prime location branding opportunity. "The visibility these signage rights offers Stonegate, at what is truly the gateway to downtown West Palm Beach and Palm Beach, is incredible,” noted Colliers International South Florida broker Tom Burst, who represented owner Clear T, LLC in the transaction.

With limited new development on the horizon and a shortage of Class A available office space in Palm Beach County, well-amenitized, functional space in close proximity to densified urban communities like 500 S. Australian Avenue is in strong demand.

"We are pleased to include Stonegate as our signature tenant. The timing of their occupancy dovetails perfectly with our planned lobby renovation,” said Hans Kalert, managing partner of Clear T, LLC owners of Clearlake Plaza. “Together this will extend Clearlake Plaza's prominence of one of West Palm's true class A buildings.”

Stonegate Bank will occupy their space by year-end and the property will launch the rebranding of the building in parallel.

About Colliers International Group

Colliers International Group Inc.(NASDAQ and TSX: CIGI) is an industry leading global real estate services company with more than 15,000 skilled professionals operating in 68 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.

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