The Real Deal Miami

Palm Beach Gardens offices sell for $10.55M

68,124-square-foot offices last sold for $10.1 million in 2011
4360 Northlake Boulevard in Palm Beach Gardens

4360 Northlake Boulevard in Palm Beach Gardens

Summit Property Group has sold a pair of office buildings in Palm Beach Gardens, county records show.

Palm Beach Gardens Office Park, a Miami Beach-based LLC led by Richard Freeman, paid $10.55 million for the 4.6-acre office park at 4360 Northlake Boulevard. 

The 68,124-square-foot offices last sold for $10.1 million in 2011, according to Palm Beach County property records – a slight decrease from this week’s sale. The buildings, at 4360 Northlake Boulevard, were developed in 1983.

Arbor JPM Funding granted the buyer a $7.75 million mortgage, records show.

Palm Beach Gardens has seen growth in its office market. An affiliate of DiVosta Investments has filed an application to build a pair of 11-story office buildings and a three-story parking garage, at 3874 Kyoto Gardens Drive,  just north of PGA Boulevard and just east of Alternate A1A.