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Lake Worth Office Buildings Trade for $11M
Avison Young has arranged the $10.9 million sale of Concept II Towers, a pair of office buildings totaling 96,674 square feet in Lake Worth, FL. David Duckworth, John Crotty, Michael Fay, Brian de la Fé, Emily Brais and Berkley Bloodworth of Avison Young represented the seller, KAS Lakeworth in the transaction. The buyer was Allen Chelminsky.
Located at 2290 and 2328 10th Avenue N., the buildings are currently 82.5% occupied. The recently-renovated property features office suites with unobstructed views of Lake Worth and is adjacent to a new Wyndham Garden Hotel and across the street from a nine-acre mixed-use development.
“The Concept II Towers sale is a sign of growing investor confidence in the commercial real estate market,” said Crotty. “Many investors are looking to get back to the business of buying assets that fit their overall strategy. The office market remains incredibly resilient, and collection rates are tracking similarly to pre-pandemic levels.”
For comments, questions or concerns, please contact David Cohen
- ◦Sale/Acquisition
