The Real Deal Miami

Palm Beach County buys LW Financial Center

December 11, 2009 12:24PM

The Health Care District of Palm Beach County has stepped in to purchase the Lake Worth Financial Centre, a 90,000-square-foot building that will serve as its administrative headquarters. The district paid BH Properties $5.8 million for the property, which the Los Angeles firm bought for $7.5 million in 2007. Attorney Daniel Kaskel of the law firm Sachs Sax Caplan represented the district in the sale. He said plunging commercial property values give buyers like government agencies the chance to pick up bargains, realize the benefits of ownership, and, in the case of the health district, pick up some rental income from the center’s current tenant, JPMorganChase. TRD