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

A New York investor purchased the property for $332 psf

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
Make-A-Wish South Florida CEO Norman Wedderburn and 350 Northwest Sixth Street (Getty, Google Maps)
Make-A-Wish pays $8M for Overtown dev site
Make-A-Wish pays $8M for Overtown dev site
Phillips Point office towers with Related’s Stephen Ross (JLL, Getty)
Related Cos. closes on West Palm office towers for $282M
Related Cos. closes on West Palm office towers for $282M
Saeed Amidi and Moishe Mana (Getty, iStock)
Plug and Play to open downtown Miami office
Plug and Play to open downtown Miami office
(iStock)
Empty cubicles: Vacancies up in South Florida office market in Q4
Empty cubicles: Vacancies up in South Florida office market in Q4
Sagi Shaked and 201 North Pine Island Road (Shaked Law, Google Maps)
Former Plantation fertility clinic sells for $8M
Former Plantation fertility clinic sells for $8M
Michael Cammarata (Linkedin, Neptune Wellness Solutions, iStock)
Cannabis wellness company relocates HQ to South Florida
Cannabis wellness company relocates HQ to South Florida
Serena Williams with 7703 Bold Lad Road and 6431 River Pointe Way (Getty, Google Maps)
Serena Williams sells Palm Beach Gardens home after buying Yadier Molina’s Jupiter mansion
Serena Williams sells Palm Beach Gardens home after buying Yadier Molina’s Jupiter mansion
Jorge Perez and Jon Paul Perez with Terminal Island (Getty, iStock)
Related gets height increase needed for Terminal Island office project in Miami Beach
Related gets height increase needed for Terminal Island office project in Miami Beach
arrow_forward_ios

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

Loading...