• .

For Sale: Royal Office Park | Royal Palm Beach, Florida

Royal_Office_ParkThe Offering

CBRE, Inc., acting as exclusive agent, is pleased to offer Royal Office Park (the “Property”) for sale, a premier Mediterranean-style mixed-use retail, office and medical complex comprising two single-story buildings with a beautifully landscaped central courtyard. Newly constructed in 2008 with hurricane-resistant fenestration, the Property is situated in the Village of Royal Palm Beach and borders Wellington, the international epicenter for equestrian activities. The Property totals 28,656 rentable square feet and is currently 100% leased.

The Property is prominently located not only along a primary north-south commercial thoroughfare, SR 7/US 441, providing the tenants’ businesses prominent exposure to over 56,000 vehicles per day, but also sits at the entrance to a brand new retail center anchored by Sports Authority, Best Buy, ULTA and Old Navy. Due to the strong demographics of the surrounding area and exceptional frontage along SR 7/US-441, within 1.5-miles of the 233-bed Wellington Regional Medical Center, the Property is home to a number of quasi-retail and medical tenants that command premium rents. The offering presents investors an attractive opportunity to own a piece of quality, well-occupied real estate in the prestigious Royal Palm Beach/Wellington area of South Florida.

Investment Highlights
• High visibility and exposure to over 56,000 vehicles per day with 620’ of frontage along SR 7/US-441
• Convenient highway access via Southern Boulevard, which boasts flyovers at major intersections to provide uninterrupted traffic flow
• Strong area demographics with an $86,000 average household income and population that is projected to grow by 15.6% through 2019 within a one-mile radius
• Excellent amenity base, including adjacent retail power centers, and proximity to the 233-bed Wellington Regional Medical Center
• Well-leased with diverse mix of quasi-retail, medical and GSA tenants
• Newer (2008), Mediterranean-style buildings with hurricane-resistant construction and no loss factor, providing cost efficiencies to tenants
• Low office submarket vacancy at only 6.7% as of 2Q’14

Investment Summary

Available SF ………. 28,656± SF
Year Built ………. 1982
Land Area ………. 5.39 acres
Occupancy ………. 100%
Parking ………. 5.5/1,000
Purchase Price ………. Unpriced
NOI………. $611,068 (In-Place)

Exclusive Contacts

Property Inquiry and Tours

Scott O’Donnell
Senior Vice President
Investment Properties
+1 561 393 1602

Dominic Montazemi
Vice President
Investment Properties
+1 561 393 1622

Miguel Alcivar
Investment Properties
+1 305 381 6488

Debt Financing

Jason Hochman
Vice President
Debt & Structured Finance
+1 305 381 6439


To download the Offering Memorandum click on the link provided below:


The full content of this article is only available to paid subscribers. If you are an active subscriber, please log in. To subscribe, please click here: SUBSCRIBE

Existing Users Log In

Comments are closed, but trackbacks and pingbacks are open.