Tag Archive for: owens realty capital

Office Building Near Gardens Mall Sold For $428 PSF

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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

Financial Advisement Firm, Law Firm Take Office Space In Palm Beach

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Cushman & Wakefield has arranged two leases at 3001 PGA Boulevard in Palm Beach Gardens.

Anthony Librizzi and Tara England of Cushman & Wakefield represented the owners, Owens Realty Capital, in the lease negotiations.

Janney Montgomery Scott, a financial advisement firm, signed a lease for 7,031 square feet, and Cummings & Lockwood, a law firm providing a broad range of trust and estates services, signed a lease for 4,343 square feet.

“We are delighted to welcome Janney Montogmery Scott and Cummings & Lockwood to our building and are looking forward to the long-term relationship with them,” said Palmer Vietor, Vice President of Owens Realty Capital. “Being able to attract quality tenants such as Janney and Cummings & Lockwood was a driving factor behind the purchase of the building for us.”

Located in the heart of Palm Beach Gardens, the three-story building totals 67,500 square feet.

“3001 PGA is uniquely positioned to meet the growing demand of occupiers seeking newer Class A product and ownership groups who value the health and safety of their tenants in the same manner as tenants do their employees,” Librizzi said. “These transactions are the result of the owner’s ability to creatively achieve deals in an ultra-competitive environment.”