Florida-based KMG Holdings LLC acquired the Delray Beach office building
SOUTH FLORIDA (February 15, 2023) – Franklin Street has arranged the sale of a 14,132-square-foot, single-tenant office building in Delray Beach, Florida, for $4.1 million, equating to $290 per square foot.
The Franklin Street investment sales team of Greg Matus, Adam J. Tiktin and Alex Lazo, in collaboration with WSB Properties’ Steve Aberman, arranged the transaction on behalf of the seller, Miami-based Pinetree Partner Investments LLC. The buyer is KMG Holdings LLC.
The single-tenant office building is zoned POC – Planned Office Center, which includes medical office and business office use. The property was unoccupied at the time of sale.
Built in 1988, the property recently underwent significant capital improvements including resurfacing the parking lot and repainting the exterior of the building. Situated on 2.6 acres, on-site amenities include 113 parking spaces.
“Located in one of South Florida’s most in-demand suburban office markets, this is a well-positioned asset ready for immediate occupancy,” said Matus.
At 3945 W Atlantic Ave., in the heart of Delray Beach, the property is conveniently located with easy access to Florida’s I-95 Corridor and Turnpike. Further, the property benefits from its positioned at the signalized intersection of Homewood Blvd and High Point Blvd.
About Franklin Street:
Founded in 2006 during one of the toughest real estate climates, Franklin Street focused on delivering value-added solutions to meet the evolving needs of clients. Through a collaborative philosophy of leveraging the resources, expertise and experience of each of its lines of business, Franklin Street has grown to include seven business divisions – Investment Sales, Tenant and Landlord Representation, Capital Advisory, Insurance, Property Management and Project Management. With $7 billion in transaction value across all major product types, Franklin Street offers unmatched value and optimal solutions for clients nationwide. Headquartered in Tampa, Fla., the firm has teams located in top markets throughout the country and works with owners and occupiers of commercial real estate nationwide. Learn more about Franklin Street at FranklinSt.com.