Palm Beach office deal announced

Palm Beach Gardens Office Park, a 67,657-square foot complex in Palm Beach Gardens, Fla., has been purchased for $11 million.

Yes Palm Beach LLC paid $162.58 per square foot to Palm Beach Gardens Office Investors LLC for the facility, which comprises two office buildings on a 4.65-acre site. The address is 4360-4632 Northlake Blvd.

At the time of purchase, the property was approximately 93 percent occupied, with major tenants including the State of Florida, Fidelity National Title, and the Leukemia & Lymphoma Society. The buyer plans to use the 5,200-square-foot vacancy for its insurance company business, according to a press statement.

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