Another major investment is putting the spotlight on Palm Beach’s luxury retail market.
Blackstone has agreed to purchase 125 Worth Avenue from an entity tied to Citadel founder Ken Griffin for $86 million.
The three-story, roughly 49,000-square-foot property sits along one of Palm Beach’s most valuable shopping corridors and includes retail and office space. Current tenants include Truist Bank and Ferretti Group.
The deal comes as demand for Worth Avenue real estate continues to climb.
A few numbers tell the story:
• Less than 1% retail vacancy in Palm Beach
• Retail rents approaching $92 per square foot
• $690 million in Palm Beach County retail sales during the first half of 2026
• Several multimillion-dollar Worth Avenue properties changing hands this year
Griffin purchased 125 Worth Avenue for $83 million in 2023.
With luxury brands, wealthy shoppers and limited available storefronts, Worth Avenue continues to attract some of the biggest names in commercial real estate.
