A newly built office building in Royal Palm Beach was just sold to an investment company for $5.6 million.
The building is a single-story structure with 13,532 square feet of commercial space, located at 420 South State Road 7, according to Palm Beach property records.
In January, Pebb sold the first portion of its project, a 30,000-square-foot medical office building that it built in 2009, for $8.3 million. The buyer was a trust managed by Paul L. Maddock Jr., a Palm Beach resident and president of the Palamad Development Company.
Now, the second piece has been sold for $5.6 million to a company titled Franqueira Investments, which was incorporated in Delaware. Its address leads back to the Miami-based accounting firm Kabat, Schertzer, De La Torre, Taraboulos & Co.