A property on Palm Beach’s Worth Avenue has been purchased for $83 million by 125 Worth LLC, a company linked to Ken Griffin‘s Citadel, Bloomberg reports.
The property is located near a former Neiman Marcus store that Citadel plans to convert into an office. Citadel’s CEO Gerald Beeson is associated with the purchasing LLC, according to documents.
Expanding Florida Presence: “Griffin has been boosting his Florida presence after moving headquarters for Citadel and Citadel Securities to the state,” the report states.
In addition to the Palm Beach property, Griffin also plans to construct an office tower in Miami’s Brickell neighborhood.
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Last year, Citadel took over the old Neiman Marcus building on Palm Beach’s main shopping street, intending to use it as an office. Griffin, with an estimated fortune of nearly $37 billion, continues to expand his business footprint in Florida.
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