The Capital Markets Team of Scott O’Donnell, Greg Miller, Dominic Montazemi and Miguel Alcivar Represented G&C Brandywine Investors, LLC in the Sale of the Asset to KAS Partners, LLC
Cushman & Wakefield announced today that it has negotiated the sale of Brandywine Centre I, a 69,951-square-foot office and retail campus in West Palm Beach.
Executive Director Scott O’Donnell, Senior Associate Greg Miller, Senior Director Dominic Montazemi and Director Miguel Alcivar represented Pompano Beach-based G&C Brandywine Investors, LLC in the disposition to Coral Gables-based KAS Partners, which acquired the asset for $10.8 million ($154 per square foot).
Brandywine Centre I is a two-building office and retail campus comprising a three-story, 60,851-square-foot office building and a one-story, 9,100-square-foot outparcel restaurant building. The lakeside property offers a tranquil setting with excellent curb appeal, a stunning atrium-style lobby and ample parking. Ownership has made significant improvements to the office building’s common areas in recent years.
Brandywine Centre I is situated on a 5.5-acre site at 580 and 600 Village Boulevard in suburban West Palm Beach. Its convenient location is proximate to the West Palm Beach CBD, Interstate 95 and Palm Beach International Airport.
Major tenants in the building include Divine Blalock Martin Sellari, Online Trading Academy, Trident Title and Recovery Home Care Services. Renegades Country Western Bar occupies the outparcel restaurant building. The campus was 93 percent occupied at the time of sale.
“Brandywine Centre I provided KAS Partners with the opportunity to acquire a recently renovated boutique office building with excellent access to a strong amenity base and I–95,” said O’Donnell.
“Market fundamentals continue to improve and bode well for the asset with the nearby, newly developed Palm Beach Outlets spurring a renaissance for the local micro-market,” added O’Donnell. “The West Palm Beach CBD has witnessed sharp increases in asking rental rates, which is causing significant leasing activity and absorption in suburban West Palm Beach.”
Including this transaction, the South Florida Commercial Team of O’Donnell, Montazemi, Alcivar, Miller and debt financing partner Jason Hochman have closed more than $246 million in sales and financing this year. Please visit www.
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Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors and occupiers optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com
