{"id":1004118738,"date":"2015-05-05T07:55:34","date_gmt":"2015-05-05T15:55:34","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=344844"},"modified":"2022-12-13T00:04:41","modified_gmt":"2022-12-13T08:04:41","slug":"kbs-realty-closes-on-189k-sf-financial-center-at-the-gardens","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/kbs-realty-closes-on-189k-sf-financial-center-at-the-gardens\/","title":{"rendered":"KBS Realty Closes on 189K SF Financial Center at the Gardens"},"content":{"rendered":"<p><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/05\/Financial-Center-at-the-Gardens.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-344845\" title=\"Financial Center at the Gardens\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/05\/Financial-Center-at-the-Gardens.jpg\" alt=\"\" width=\"300\" height=\"224\" \/><\/a>Financial Center at the<\/p>\n<p>KBS Realty Advisors of Newport Beach, Calif. has picked up a 188,772 square-foot Class A office building from institutional investors advised by JP Morgan Asset Management.<\/p>\n<p>The property, Gardens, is located at the northwest quadrant of PGA Boulevard\u2019s intersection with Interstate 95 in Palm Beach Gardens.<\/p>\n<p>Cushman &amp; Wakefield\u2019s team of Executive Director Mike Davis, Senior Director Michael Lerner, Senior Director Rick Brugge, Director Mark Pateman, and Associate Director Tara England represented the seller. The value of the transaction was not disclosed.<\/p>\n<p>\u201cWith the strong demographics and economic\/employment trends continuing in south Florida, real estate fundamentals have shown strong improvement along the PGA Boulevard corridor with tenant demand shifting from the coastline and towards I-95 more amenity-rich centers as well as popular commuting routes,\u201d said KBS Eastern Regional President Marc DeLuca. \u201cWe consider this property to be among the premier office buildings in the North Palm Beach submarket.\u201d<\/p>\n<p>The building\u2019s flexible floor plates\u2013ranging from 21,600 to 46,500 square feet\u2013allow it to accommodate tenants opting for traditional layouts as well as open-office configurations, and also to incorporate areas for collaboration. Financial Center at the Gardens has numerous amenities within walking distance, including a lifestyle center with restaurants, retail and entertainment destinations and a high-end mall.<\/p>\n<p>The previous ownership has upgraded several key elements of the building over the last decade or so, including the roof, insulation, air conditioning, restrooms on multiple floors, the 743 space parking garage and the lobby area along with the monument sign. The property was 92 percent leased at the time of the acquisition, mostly to corporate tenants such as Morgan Stanley, UBS and Regus.<\/p>\n<p><em>Photo credits: Regus<\/em> <em>\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Financial Center at the KBS Realty Advisors of Newport Beach, Calif. has picked up a 188,772 square-foot Class A office building from institutional investors advised by JP Morgan Asset Management. <\/p>\n","protected":false},"author":35,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1492,21742],"tags":[1815],"class_list":["post-1004118738","post","type-post","status-publish","format-standard","hentry","category-miami","category-latest","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>KBS Realty Closes on 189K SF Financial Center at the Gardens - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/kbs-realty-closes-on-189k-sf-financial-center-at-the-gardens\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"KBS Realty Closes on 189K SF Financial Center at the Gardens\" \/>\n<meta property=\"og:description\" content=\"Financial Center at the KBS Realty Advisors of Newport Beach, Calif. has picked up a 188,772 square-foot Class A office building from institutional investors advised by JP Morgan Asset Management.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/kbs-realty-closes-on-189k-sf-financial-center-at-the-gardens\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-05-05T15:55:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-13T08:04:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/05\/Financial-Center-at-the-Gardens.jpg\" \/>\n<meta name=\"author\" content=\"Balazs Szekely\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/kbs-realty-closes-on-189k-sf-financial-center-at-the-gardens\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/kbs-realty-closes-on-189k-sf-financial-center-at-the-gardens\\\/\"},\"author\":{\"name\":\"Balazs Szekely\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/623e95293ca6c6791bedc7473f548d7f\"},\"headline\":\"KBS Realty Closes on 189K SF Financial Center at the Gardens\",\"datePublished\":\"2015-05-05T15:55:34+00:00\",\"dateModified\":\"2022-12-13T08:04:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/kbs-realty-closes-on-189k-sf-financial-center-at-the-gardens\\\/\"},\"wordCount\":286,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/kbs-realty-closes-on-189k-sf-financial-center-at-the-gardens\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/05\\\/Financial-Center-at-the-Gardens.jpg\",\"keywords\":[\"National\"],\"articleSection\":[\"Miami\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/kbs-realty-closes-on-189k-sf-financial-center-at-the-gardens\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/kbs-realty-closes-on-189k-sf-financial-center-at-the-gardens\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/kbs-realty-closes-on-189k-sf-financial-center-at-the-gardens\\\/\",\"name\":\"KBS Realty Closes on 189K SF Financial Center at the Gardens - 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