{"id":1004636064,"date":"2022-12-20T06:59:50","date_gmt":"2022-12-20T14:59:50","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004636064"},"modified":"2022-12-20T07:15:01","modified_gmt":"2022-12-20T15:15:01","slug":"west-palm-beach-area-office-building-changes-hands","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/west-palm-beach-area-office-building-changes-hands\/","title":{"rendered":"West Palm Beach-Area Office Building Changes Hands"},"content":{"rendered":"
\"\"<\/a>

4200-4400 Northcorp Parkway<\/p><\/div>\n

A joint venture between Alchemy-ABR Investment Partners<\/strong> and Breakers Capital Partners<\/strong> has sold 4200-4400 Northcorp Parkway, a Class A office property in Palm Beach Gardens, Fla. ABS National Business Parks<\/strong> acquired the asset for $38 million, in an off-market deal.<\/p>\n

According to CommercialEdge data, the 115,000-square-foot property previously traded in 2016 for $30.1 million. In 2021, the asset became subject to a $25.4 million refinancing loan provided by Bank United<\/strong>, the same data provider shows.<\/p>\n

Completed in 1996 and fully renovated in 2013, the four-story building is LEED Gold-certified and includes a fitness center and 329 parking spaces. The tenant roster comprises Garden of Life, Oxford Global Resources, DePuy Synthes Products and MDNow, a Florida urgent care provider which signed a 18,648-square-foot lease<\/a> at the location in August 2022.<\/p>\n

Situated on a 6.2-acre site adjacent to Interstate 95, the property is 12.5 miles from central West Palm Beach, Fla. Tenants have access to a variety of amenity options in the surrounding area, including restaurants and shops.<\/p>\n

CommercialEdge data shows that Alchemy-ABR Investment Partners’ current portfolio comprises another Florida property, a 93,260-square-foot office building in Boca Raton. Formed in 2015, the company is developing over 1.5 million square feet of commercial real estate across New York, Miami, and Raleigh, N.C.<\/p>\n","protected":false},"excerpt":{"rendered":"

Alchemy-ABR Investment Partners was one of the sellers of the Class A property.<\/p>\n","protected":false},"author":2829,"featured_media":1004636070,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,1492,21742,21747],"tags":[51620,51621],"class_list":["post-1004636064","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-miami","category-latest","category-office","tag-alchemy-abr-investment-partners","tag-breakers-capital-group"],"acf":[],"yoast_head":"\nWest Palm Beach-Area Office Building Changes Hands - CPE<\/title>\n<meta name=\"description\" content=\"Alchemy-ABR Investment Partners and Breakers Capital Partners sold a 113,565-square-foot office building in central Palm Beach Gardens.\" \/>\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\/west-palm-beach-area-office-building-changes-hands\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"West Palm Beach-Area Office Building Changes Hands\" \/>\n<meta property=\"og:description\" content=\"Alchemy-ABR Investment Partners and Breakers Capital Partners sold a 113,565-square-foot office building in central Palm Beach Gardens.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/west-palm-beach-area-office-building-changes-hands\/\" \/>\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=\"2022-12-20T14:59:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-20T15:15:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/Palm-Beach-Gardens-office-e1671454609748.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"750\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Madalina Pojoga\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/west-palm-beach-area-office-building-changes-hands\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/west-palm-beach-area-office-building-changes-hands\/\",\"name\":\"West Palm Beach-Area Office Building Changes Hands - 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