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Florida & Gulf Coast  + South Florida  + Office  |  May 6, 2021
David Cohen
By: David Cohen

CBRE Brokers $31M Sale of West Palm Beach Office Complex

CBRE has arranged the $30.5 million sale of Gardens Plaza, an office complex in West Palm Beach.

Gardens Plaza consists of a 9-story office tower, a 2-story medical office building and a development pad. The Property is located on the south side of PGA Boulevard. Gardens Plaza is 85% leased to a variety of corporate tenants. The nine-story tower, which is among the tallest structures on PGA Boulevard, supports 86,542 rentable square feet and offers exceptional unobstructed views of the surrounding area. The two-story medical office building accounts for 5,627 square feet of the total and has been occupied by Jupiter Medical since 2016.

Christian Lee, José Lobón, Kevin Probel and Kevin McCarthy of CBRE represented the seller, South Florida-based development firm Stiles, in the transaction. The buyer, ABS National Business, acquired the fee simple interest in the complex.

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CBRE’s Lee

About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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