Sabal Development Closes $30M Sale Of Highland Beach Villa In Palm Beach County
The four-story modern masterpiece with majestic ocean views and high-class finishes is located at 4005 South Ocean Boulevard.
The four-story modern masterpiece with majestic ocean views and high-class finishes is located at 4005 South Ocean Boulevard.
The 41-story mixed-use development will bring 306 condominium residences and 245,000 square feet of Class-A office space to Downtown Miami.
Gordon Messinger and Randy Carballo with CBRE represented the landlord in lease negotiations, while Jeff Gordon and Iker Belauste with CBRE represented the tenant.
The 635-foot-tall building will have 312,058 square feet of office space, 29,109 square feet of commercial space, and 671 parking spaces.
The winning city can expect train service to begin in 2028.
The listing increases Team Kingsley-Rutchik’s market share of Class A buildings in the market to 1,771,254 square feet, totaling 33.7%.
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City approval includes permits for 1,243 residential units, 125,000 square feet of retail space, a 140-room hotel, a 55,000-square-foot entertainment arena with seating for 5,000 people, and 85,000 square feet of medical offices.
Robert Smith, Kirk Nelson, and Jeff Kelly with CBRE Industrial & Logistics represented the seller in the transaction. The buyer was represented by NAI Miami.
He brings 20 years of office leasing experience and more than three million square feet in completed transactions.
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