Chatham Lodging Trust and Island Hospitality Management are moving from Palm Beach to West Palm Beach, where they signed a lease at Esperanté Tower.
Cushman & Wakefield’s Mark Pateman, Danielle Vennett and Jon Blunk represented the landlord in the 27,516-square-foot lease. The building is now 87 percent occupied.
“A corporate headquarters is an ideal fit with Esperanté’s high quality tenant mix,” said Angelo Bianco, a partner with landlord Crocker Partners. “We’re pleased Chatham Lodging Trust took advantage of this opportunity to consolidate operations from locations around the Town of Palm Beach.”
Chatham Lodging (NYSE: CLDT) didn’t announce the financial terms of the lease. The company is currently located at 50 Coconut Row. The company fully or partially owns 130 hotels with a combined 17,858 rooms.
Island Hospitality is partly owned by Chatham Lodging President and CEO Jeff Fisher. It’s a third-party hotel management firm serving over 140 hotels.