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3250 PGA Boulevard, Palm Be...

ABS National Business Acquires Office On PGA Boulevard In Palm Beach Gardens For $30.55M
SOLDOffice

ABS National Business Acquires Office On PGA Boulevard In Palm Beach Gardens For $30.55M

3250 PGA Boulevard, Palm Beach Gardens, FL 33410

$30,550,000

$353/SF

Building Size

86,542 SF

Asset Type

Office

Closing

May 4, 2021

AI

The office property located at 3250 PGA Boulevard in Palm Beach Gardens has been sold in a transaction worth $30,550,000. The property spans 86,542 square feet, resulting in a price per square foot of $353. The sale of this property was completed on 05/05/2021.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $30,550,000
  • Address: 3250 PGA Boulevard, Palm Beach Gardens
  • Market: Palm Beach Gardens
  • Buyer: ABS National Business - Brian Warwick, Gregg Schenker & John Zirinsky
  • Seller: Stiles
  • Brokers: Christian Lee, José Lobón, Kevin Probel & Kevin McCarthy - CBRE

The buyer representation in this deal was provided by Brian Warwick, Gregg Schenker, and John Zirinsky from ABS National Business. On the other hand, the seller was Stiles. The transaction was facilitated by Christian Lee, José Lobón, Kevin Probel, and Kevin McCarthy from CBRE.

Players

Christian Lee

CBRE

Broker

$2.2B

vol

29 deals

Broker

Palm Beach Gardens Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.52%

Cash-on-Cash

-0.15%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93