PALM BEACH, FL-The Arbors Office Park has a new owner. The three-building office park was only 45% occupied when it traded hands, offering the buyer plenty of upside potential as the market recovers. The property spans 244,247 rentable square feet.

“We had tremendous investor interest in the deal,” CBRE vice chairman Christian Lee tells GlobeSt.com. “Investors in today’s market are looking for either a trophy or a train wreck. This deal would fall in the train wreck category.”

A train wreck based only on the high vacancy. Built in 1981, the property is a class A office park with a high 4.63 per 1,000 square foot parking ratio. Key tenants include Alfred Angelo, Sperry & Hutchinson, Twin-Star International and Escalate. RexxHall Realty purchased the asset. CBRE declined to disclose the seller and the sales price.