Palm Beach, FL – (October 7, 2009) — Making way for 204 Royal Palm Way, the Town’s first new Class A office building since 2003, several vacant buildings along Palm Beach’s “Bankers Row“ were razed this week. Located close to the southwest corner of South County Road and Royal Palm Way, one of the Town’s most important gateways, the new 13,500-square-foot, three-story building is being developed by Leonard Ackerman of Palm Beach and East Hampton , and leased by Crocker Partners.

“This location presents a rare opportunity in the highly coveted Banker’s Row area of Palm Beach. It combines one of the Town’s most important locations with the advantages of new, green construction and floor plans that can be tailored to a company’s needs,” said Jon Blunk, Crocker Partners’ Senior Vice President responsible for leasing. “While the ideal scenario offers building naming rights for a single signature tenant to create a distinct identity, the floor plans are flexible enough to accommodate multiple tenants.”

“Demolition of the existing buildings, one vacant for over 15 years, will finally give this premier site the attention it deserves, and will positively contribute to the quality of the street, ” Blunk added.

Designed by the award-winning firm of Oliver Design Group Architects, 204 Royal Palm Way’s classical architecture reflects Palm Beach’s heritage, while incorporating the latest energy efficient green building principles. While consistent with the scale and design context of neighboring buildings, 204 Royal Palm Way will be distinctive, according to Ed Oliver, whose firm also designed the nearby Brown Brothers Harriman and Fidelity Investments buildings. Oliver also designed the Pavilion at the Colony Hotel.

Design highlights include meaningful outdoor spaces for tenants including a landscaped private terrace and office balconies on the building’s second floor, and a terrace wrapping the third floor’s north side and a southern oriented loggia also on the 3rd floor . The first floor features a well appointed entry lobby and the convenience of full-time covered valet parking. The main entry is accented by an “arched” beam and architectural columns. Arches are also featured at the vehicle access point, and on a 3rd floor tower element adding to the building’s identity.

The project has received formal approval from ARCOM and the Town Council. Construction is projected to begin in 2010 and completion will take approximately 12 months.

Blunk said that Crocker Partners welcomes the opportunity to market 204 Royal Palm Way. The Company already is active in Palm Beach as owner of 400 Royal Palm Way and of 125 Worth Avenue, which also is poised to take on a higher profile this season. After relocating tenants to free up 3,000 square feet on the ground floor fronting Worth Avenue, Crocker Partners is rebranding that space as one of Worth Avenue’s premier destination retail locations, he said.