Palm Beach Gardens Trophy Asset Trades Hands

Scott O’Donell

MIAMI—Corporate Center at the Gardens, a 113,565-square-foot, two-building, class A office campus located at 4200–4400 Northcorp Parkway in Palm Beach Gardens, FL, has traded hands. The office assets sold for $30.5 million, or $264 per square foot.

Cushman & Wakefield executive director Scott O’Donnell, senior director Dominic Montazemi, director Miguel Alcivar, senior associate Greg Miller, senior director Jason Hochman and CBRE‘s Anthony Librizzi represented the seller, Lexington Palm Beach. Alchemy-ABR-BCP Gardens acquired the office buildings.

Corporate Center at the Gardens sits on 6.2-acre parcel in PGA Professional Center. Building 4200 is a 95,065-square-feet, four-story structure developed in 1996. Building 4400 is a 18,500-square-foot, two story structure developed in 1999. The office campus also features covered and garage parking. Ownership invested nearly $9 million in capital improvements to the campus beginning in 2012.