Palm Beach Gardens Office Complex Trades For $80M

New York-based real estate firm Gatsby Enterprises has acquired DiVosta Towers, a 220K-SF office complex in Palm Beach Gardens.

The sales price was $80 million.

Located at 3825-3835 PGA Blvd., the Class A office complex consists of two 11-story office buildings and 889 parking spaces. The South Tower was completed in 2019 and is approximately 70 percent leased to a tenant roster that consists of JP Morgan and Comiter, Singer, Baseman & Braun, LLP. The North Tower was completed in September.

Jon Blunk at Tower Commercial Real Estate has been tapped to oversee the leasing for both buildings.

The Seller, Gardens Corporate Center LLC, acquired the seven-acre site in early 2015 for $8.5 million and spent the past five years constructing both towers along with the four-level parking garage.

Source:  Connect Media