Office Building Near Gardens Mall Sold For $428 PSF

A Palm Beach Gardens office building just south of the Gardens Mall has been sold for $30.3 million.

OG 3001 PGA Blvd LLC, led by Robert D. Owens of Orlando’s Owens Realty Capital, transferred ownership of the 70,730-square-foot property at 3001 PGA Blvd. to APC (US) 3001 PGA LP, a Delaware-based entity with ties to Toronto’s private equity firm Roadmap Capital.

The transaction price equates to $428 per square foot.

The three-story building last changed hands in 2018 for $25.1 million. Palm Beach County has continued to see strong demand for office space, with many affluent individuals relocating to the area, often bringing their businesses along.

Constructed in 2006, the property sits on a 5.6-acre plot. Its tenants include Seacoast Bank and American Title Insurance Co.

 

Source:  SFBJ