OFFICE BUILDING PORTFOLIO FOR SALE WEST PALM BEACH, FLORIDA $18,545,000 For information contact: Barbara LeBrun NAI/Merin Hunter Codman 1601 Forum Place, Suite 200 West Palm Beach, FL 33406 (561) 471-8000 blebrun@mhcreal.com
PROPERTY NO.: 1 1551 Forum Way West Palm Beach, FL 39,124 SF 161,100 SF (3.7 Ac.) NOI (ACTUAL): $499,289 OCCUPANCY: 88% PCN: 74-43-43-17-05-003-0070 2009 TAXES: $95,736 $6,727,000 (7% CAP) YEAR BUILT: 1980 PARKING RATIO: 4:1,000 AREA DISCRIPTION: This property is a campus style office setting consisting of five singlestory buildings with tropical courtyards featuring benches, water fountains and lush foliage. All tenants have individual A/C units (70% are new), and all utilities are separately metered. The buildings have no deferred maintenance and are on City water and sewer with deep well irrigation. Two minutes from I-95 via Palm Beach Lakes Blvd. Just east of Congress Avenue and north of Palm Beach Lakes Boulevard at the cul-desac on Forum Place. Walk to shopping, restaurants and banking. 10 minutes from downtown, Palm Beach County Courthouse and CityPlace.
PROPERTY NO.: 2 1639 Forum Way West Palm Beach, FL 15,415 SF 53,026 SF (1.2 Ac.) NOI (ACTUAL): $221,197 OCCUPANCY: 100% PCN: 74-43-43-17-05-003-0040 2009 TAXES: $50,113 $3,160,000 (7% CAP) YEAR BUILT: 1973 PARKING RATIO: 4:1,000 AREA DESCRIPTION: This property is a campus style office setting consisting of three singlestory buildings with new roofs in 2006. All tenants have individual A/C units (70% are new), and all utilities are separately metered. The buildings have no deferred maintenance and are on City water and sewer. Two minutes from I-95 via Palm Beach Lakes Blvd. Just east of Congress Avenue and north of Palm Beach Lakes Boulevard on Forum Place just west of Forum Way. Walk to shopping, restaurants and banking. 10 minutes from downtown, Palm Beach County Courthouse and CityPlace.
PROPERTY NO. 3 2250 & 2260 Palm Beach Lakes Blvd. West Palm Beach, FL 33406 27,550 SF 76,000 SF (1.74 Ac.) NOI (ACTUAL): $368,049 OCCUPANCY: 95% PCN: 74-43-43-19-09-038-0070 2009 TAXES: $78,395 $5,258,000 (7% CAP) YEAR BUILT: 1970/1974 PARKING RATIO: 3:1,000 AREA DESCRIPTION: This property consists of two single-story buildings, with new roofs in 2007. All tenants have individual A/C units (75% are new), and all utilities are separately metered. The buildings have no deferred maintenance and are on City water and sewer. Immediately west of I-95 on Palm Beach Lakes Blvd. Surrounded by shopping, restaurants and banking. 10 minutes from downtown, Palm Beach County Courthouse and CityPlace.
PROPERTY NO.: 4 5725 Corporate Way West Palm Beach, FL 33406 18,890 SF 50,050 SF (1.15 AC.) NOI (ACTUAL): $235,989 OCCUPANCY: 100% PCN: 74-43-43-06-01-000-0080 2009 TAXES: $42,769 $3,400,000 (7% CAP) YEAR BUILT: 1983 PARKING RATIO: 4:1,000 AREA DESCRIPTION: This property is a 2-story office building with an elevator, nicely improved interior hallways and office entries. All tenants have individual A/C units (80% are new), and all utilities are separately metered. The roof is new in 2008 and the building has no deferred maintenance. The building is on City water and sewer with deep well irrigation. New elevator controls were installed in 2007. The property is in a corporate office park just east of I-95 on Corporate Way, on the north side of 45th Street. Convenient to restaurants, banking, and medical facilities.
MAP LOCATOR 4 2 1 3 Property No. Address 1 1551 Forum Place 2 1639 Forum Place 3 2250 & 2260 Palm Beach Lakes Blvd. 4 5725 Corporate Way