Showroom and office building sell for $10M in Palm Beach Gardens

A New York investor purchased the property for $332 psf

TRD MIAMI /
Nov.November 13, 2019 04:30 PM
4290 Professional Center Drive (Credit: Google Maps)

4290 Professional Center Drive (Credit: Google Maps)

A showroom and office building in Palm Beach Gardens sold for $10.2 million.

New York-based JKHA Group, led by Jerome Berko, purchased the 30,681-square-foot property at 4290 Professional Center Drive for $332 per square foot, records show. A company tied to Chicago-based Group One Investments sold the property.

The three-story office and design showroom, known as the Design Center, was last purchased in 2014 for $6.8 million, records show. The property was built in 2007.

Group One Investments also has multifamily properties in Georgia, Texas, New York and Illinois. The company was founded in 1977 by Howard Wolkoff and Bob Weitzman, according to its website.

The sleepy town of Palm Beach Gardens is seeing more interest from developers.

Late last year, Brookfield Asset Management paid nearly $218 million for the PGA National Resort & Spa in Palm Beach Gardens, marking the largest hotel sale in South Florida of the year. This summer, New York Life Insurance Co. bought The Financial Center at the Gardens for $71.8 million, in one of the Palm Beach County’s largest office sales of the year.


Related Articles

arrow_forward_ios
119 Washington Avenue Miami Beach

South Beach office building inks lease for record $92 psf

South Beach office building inks lease for record $92 psf
12251 Tillinghast Circle and Elin Nordegren (Credit: Google Maps and Gustavo Caballero/Getty Images)

Tiger Woods’ ex-wife buys Palm Beach Gardens home

Tiger Woods’ ex-wife buys Palm Beach Gardens home
Banyan Street Capital CEO Rudy Prio Touzet and the two towers (Credit: Google Maps)

Banyan Capital buys Doral office towers for $43M

Banyan Capital buys Doral office towers for $43M
Rishi Kapoor with Forum Coral Gables

Co-working virtually: Coral Gables space rolls out memberships

Co-working virtually: Coral Gables space rolls out memberships
Scott Schoenlank, Andor Kovacs and 6041-6047 Kimberly Boulevard, North Lauderdale (Linkedin, Google Maps)

Restoration 1 franchise founder buys North Lauderdale office and retail center for $6M

Restoration 1 franchise founder buys North Lauderdale office and retail center for $6M
Scott Brenner, Joe Tuttle, and 225 North Federal Highway (Credit: Google Maps)

Addiction treatment firm Banyan buys Pompano Beach office tower for $6M

Addiction treatment firm Banyan buys Pompano Beach office tower for $6M
Charles Cohen and a rendering of the project (Getty, Pelli Clarke Pelli Architects)

Billionaire Charles Cohen proposes 338-foot tall office tower in West Palm

Billionaire Charles Cohen proposes 338-foot tall office tower in West Palm
4700 North Congress Avenue and Velocis Managing Partner Fred Hamm (Google Maps)

Private equity firm sells West Palm medical offices at discount

Private equity firm sells West Palm medical offices at discount
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...