Angler Properties Acquires Northpoint Business Plaza In West Palm Beach For $15.45M

The fully leased Northpoint Business Plaza in West Palm Beach has been sold for $15.45 million. Spanning across 6.3 acres, the office asset comprises a single-story design and offers a total of 79,516 square feet. With a price per square foot of $194, the property attracted the attention of investors due to rising office rental rates in the area and the overall success of the South Florida office market. The transaction represents a gain in value since its last sale in 2020.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $15,450,000
• Address: 901 & 907 Northpoint Parkway, West Palm Beach
• Market: West Palm Beach
• Acres: 6.3
• Square Footage: 79,516
• Price per Square Foot: $194

Angler Properties acquired the Northpoint Business Plaza, with Tom Gibson and Darryn Dunn of Asset Specialists representing the buyer. On the other side of the deal, Arturo Alvarez Demalde, also known as AD4, acted as the seller. The seller was represented by Michael Falk, Scott Weprin, Jason Weprin, Robert Dabrowski, and Jonathan Temple from Colliers, as well as Alan Long from Newmark. The successful sale of the property showcases the strong demand for office assets in West Palm Beach.