High Tech Building's Sale Price Jumps 145% in 2 Years

WEST PALM BEACH, FL-A group led by Node Com Inc. of Morristown, NJ has acquired the six-story, 75,000-sf Meridian Building at 326 Fern St. for $5.65 million ($74.67 psf) from local investor Albert Beriro who bought it two years ago for $2.3 million ($30.67 psf). The 145% jump in value of the Downtown property is attributed to the building's fiber-optic lines and telecommunications switches in demand by tech companies.

By Harold Kelman | September 08, 2000 at 01:01 AM

The partnership already has a tenant commitment for one-third of the space formerly occupied by BellSouth. Tampa-based Switch & Data Facilities Co. is taking 24,500 sf on two of the six floors. The tenant rents switching equipment and rack space to telecom firms.

Switch & Data plans to spend between $2 million and $3 million on improvements. Office/service rents in the area average $10 psf. Trammell Crow Co. was the seller's broker. Touchstone Webb Realty Co. handled the buyer.

NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

1 Blackstone Says Tariffs Are Affecting CRE Investment

2 CRE's Women of Influence 2025

3 Real Estate Markets That Could Win in Several Tariff Scenarios

4 Economists Continue Raising the Likelihood of Tougher Economic Times

5 Prologis Expects Increased Warehouse Demand Because of Tariffs and Trade Wars

Real Estate
GlobeSt. ELITE Women of Influence (WOI) 2025
July 21, 2025 - Denver

GlobeSt. Women of Influence Conference celebrates the women who drive the commercial real estate industry forward.
More Information
Real Estate
GlobeSt. Multifamily Fall 2025
October 15, 2025 - Los Angeles

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!
More Information
Workers' Compensation Risk Management Award for Excellence Nominations
May 05, 2025 - Nomination Deadline

The 2025 Workers Comp Risk Management Award for Excellence honors outstanding loss control, safety and return-to-work programs.
More Information

Loan Modifications Nearly Double to $39B as Extend and Pretend Tactics Surge

By Erik Sherman | April 22, 2025

Loan modifications jumped year-over-year in March to $39.3 billion.

Loan Modifications Nearly Double to $39B as Extend and Pretend Tactics Surge

CRE Spreads Widen as Tariffs Drive Lenders to Tighten Credit

By Erik Sherman | April 18, 2025

CRE credit spreads mirror pandemic-era surge as tariffs and geopolitical tensions unsettle markets.

CRE Spreads Widen as Tariffs Drive Lenders to Tighten Credit

Cautious Capital, Mark-to-Market Opportunities, and Leasing Trends Are Reshaping the Industrial Sector

By Erik Sherman | April 17, 2025

The sector is entering a new cycle marked by selective investment, stabilizing rents, and regional divergence.

Cautious Capital, Mark-to-Market Opportunities, and Leasing Trends Are Reshaping the Industrial Sector

Leveling Up: Choosing the Best Renters Insurance Partner for Your Multifamily Housing Portfolio link

Guide

Sponsored by Assurant

Leveling Up: Choosing the Best Renters Insurance Partner for Your Multifamily Housing Portfolio

Picking the right renters insurance can be a headache. This guide will help you find the perfect partner for your multifamily properties so you can boost resident participation and lower your risk.

Browse More Resources ›

The Return to Office: Recovery Still Underway link

Guide

Sponsored by Placer.ai

The Return to Office: Recovery Still Underway

Are you noticing unexpected shifts in office occupancy and commuter behavior? This report reveals how evolving work patterns are challenging CRE brokers and offers crucial, data-backed insights for 2025. Discover a detailed analysis of office visit fluctuations, an in-depth look at midweek work trends, accurate forecasts for market recovery, real-world examples to inform strategic decisions, and actionable metrics to guide client advising. Download your copy today!

Browse More Resources ›

The State of Commercial Property Management Technology in 2025 link

Report

Sponsored by Building Engines

The State of Commercial Property Management Technology in 2025

Commercial property teams are navigating changing times where technology plays a crucial role in operations, tenant satisfaction, and sustainability. This report, based on insights from 370 industry professionals, reveals the biggest priorities, challenges, and opportunities for CRE technology adoption in 2025. Don’t miss it.

Browse More Resources ›