IPA Closes Palm Beach County Office Building Sale
The building sold for $15.3 million.
The building sold for $15.3 million.
Jonathan De La Rosa and Eddie Toledo, investment specialists in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller and procured the buyer.
The sales, announced in mid-January 2025, reflect the growing demand for well-maintained and strategically located apartment communities in both established and emerging markets across the state.
The asset traded for $21.5 million.
Cushman & Wakefield’s Miguel Alcivar, Stuart Gordon and Matthew Bittel along with Marcus & Millichap’s Derrick Dougherty represented the seller in the transaction.
Jonathan De La Rosa and Eduardo Toledo, investment specialists in Marcus & Millichap’s Miami office, exclusively marketed the property on behalf of the seller, Core Investment Management, and procured the buyer, a local family office.
The property includes 58,446 square feet of rentable space across two buildings on 5.23 acres.
The site spans six parcels and is one of the last remaining sites of this size allowing for large-scale development in the Edgewater area.
Vice President Bradley Arendt, Executive Vice President Mika Mattingly and Associate Jonathan Papeika of the Colliers South Florida Urban Core Division represented the seller in the transaction. Ryan Shaw of Marcus & Millichap represented the buyer.
He will oversee daily brokerage operations, including recruiting, hiring, training and developing agents and staff.
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