The property has been significantly repositioned with over $700,000 in common area and building system improvements since 2011. CLICK ON THE HEADLINE FOR MORE
Ryan Goggins handled the deal for Sunbeam. CLICK ON THE HEADLINE FOR MORE
CBRE, Inc. has been hired to sell the Sabadell United Bank Building, a 12-story, 113,567 square foot asset in West Palm Beach, along with its five-level structured parking garage.
The asking price is $16.5 million, or $145 per square foot.
Built in 1980, the building is 86.9 percent occupied. The occupancy of the building is expected to decrease to 80 percent with the pending relocation of Rosenthal & Levy. Outside of Rosenthal & Levy, 19.4% of leases are expiring on a PSF basis through 2014.
PEBB Enterprises of Boca Raton purchased the Sabadell United Bank Building, located at 1645 Palm Beach Lakes Blvd., and the Horizons Building, located at 1401 Forum Way, in November 2011.
The combined purchase price was $14,250,000 for the two buildings.
Since then, the property has been significantly repositioned with over $700,000 in common area and building system improvements.
Source: CityBiz
Bunzl Distribution Southeast, Inc., a re-distributor of paper and plastic disposable products to the janitorial and foodservice industries with 90 branches throughout North America, has renewed its lease of 76,326 sq. ft. of space at 9702-9376 Premier Parkway in the Miramar Park of Commerce.
“We chose to renew in the Miramar Park of Commerce in large part because of the proximity to major highways for our trucks,” said Bunzl South Florida General Manager Viktor Frengut. “Also, Sunbeam has always been fair and good to work with as our landlord.”
Representing the Park in the transaction was Ryan Goggins of Sunbeam Properties, developer of the Park. Representing Bunzl Distribution Southeast, Inc. was Mark Sonnenberg of LaSala-Sonnenberg Commercial Realty.
“We value our tenants and do all that we can to retain them,” said Vice President of Sunbeam Properties Maridee Bell. “So when Bunzl expanded in the Park about 18 months ago, we worked closely with them to meet their needs. That in turn led Bunzl to renew its lease with us now.”
West Palm Office Building Goes On Market For $16.5M
/in News/by SFOBA STAFFThe property has been significantly repositioned with over $700,000 in common area and building system improvements since 2011. CLICK ON THE HEADLINE FOR MORE
Miramar POC Renews 76,000 SF Lease
/in Done Deals/by SFOBA STAFFRyan Goggins handled the deal for Sunbeam. CLICK ON THE HEADLINE FOR MORE