March 24, 2016
Two New York entities struck a deal to trade the 113,365-square-foot Corporate Center at the Gardens in Palm Beach Gardens, FL. Lexington Realty Trust sold the two-building, Class A office campus to Alchemy-ABR Investment Partners for $30 million.
The office campus at 4200-4400 Northcorp. Pkwy. was built in 1999. Lexington Realty Trust had invested $9 million in capital improvements to the campus. The asset was 100% occupied at the time of sale.
Cushman & Wakefield’s Scott O’Donnell, Dominic Montazemi, Miguel Alcivar, Greg Miller and Jason Hochman, along with CBRE’s Anthony Librizzi, represented the seller in the transaction.