4200-4400 Northcorp Parkway
A three way partnership between Alchemy-ABR Funding Companions and Breakers Capital Companions has offered 4200-4400 Northcorp Parkway, a Class A workplace property in Palm Seaside Gardens, Fla. ABS Nationwide Enterprise Parks acquired the asset for $38 million, in an off-market deal.
Based on CommercialEdge knowledge, the 115,000-square-foot property beforehand traded in 2016 for $30.1 million. In 2021, the asset turned topic to a $25.4 million refinancing mortgage offered by Financial institution United, the identical knowledge supplier exhibits.
Accomplished in 1996 and totally renovated in 2013, the four-story constructing is LEED Gold-certified and features a health middle and 329 parking areas. The tenant roster includes Backyard of Life, Oxford International Sources, DePuy Synthes Merchandise and MDNow, a Florida pressing care supplier which signed a 18,648-square-foot lease on the location in August 2022.
Located on a 6.2-acre website adjoining to Interstate 95, the property is 12.5 miles from central West Palm Seaside, Fla. Tenants have entry to quite a lot of amenity choices within the surrounding space, together with eating places and outlets.
CommercialEdge knowledge exhibits that Alchemy-ABR Funding Companions’ present portfolio includes one other Florida property, a 93,260-square-foot workplace constructing in Boca Raton. Shaped in 2015, the corporate is creating over 1.5 million sq. toes of business actual property throughout New York, Miami, and Raleigh, N.C.
