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Buy & Hold (Commercial): Class A Office Tower, PGA Blvd, Palm Beach Gardens, FL + $30,500,000

Commercial Investment Opportunity





Price

$30,500,000


OFF-MARKET CLASS A OFFICE OPPORTUNITY


Palm Beach Gardens

4400 PGA Blvd | Direct I-95 & PGA Blvd Exposure


Asking Price: $30,500,000


Direct to Seller Representation


Asset Overview

10-Story Class A Office Tower

80,839 SF Gross Leasable Area


This offering includes:

• 100% fee ownership of the office tower

• 30% ownership interest in adjacent 4.25-acre General Commercial development parcel

• Direct I-95 frontage in one of South Florida’s most affluent corridors

• Direct relationship with ownership, streamlined execution


The Embassy Suites component is currently pending under contract. This offering reflects the office tower and associated land interest only.



Financial Summary

Confirmed In-Place NOI: $1,932,000

Cap Rate at $30.5M: 6.34%

Occupancy (As of 05/31/2025):84.12%

Occupied94.31% Leased (including executed future lease)

Annualized Gross Revenue (Leased): Approximately $3.06M


The asset is generating stable income today with meaningful embedded growth through lease escalations and continued stabilization.


Leasing Momentum & Tenant Profile

Major tenants include:

• Marsh & McLennan Agency – 16,468 SF

• US Army Corps of Engineers – 11,420 SF

• National Dentex – 8,234 SF

• Scott, Harris, Bryan, Barra & Jorgensen – 5,709 SF

• Johnston Group Development – 4,720 SF


New 10-Year Lease Executed: Smith & Ball, PLLC – 8,234 SF

Starting at $44/SF with structured annual increases through 2035

Multiple leases include built-in rent escalations, supporting future NOI expansion.


Stabilization Upside

Projected Stabilized NOI: Approximately $2.4M

At the $30.5M asking price:

• 6.34% Cap on Current Verified NOI

• ~8% Cap at Stabilization


Clear yield expansion opportunity in a supply-constrained, high-barrier-to-entry submarket.


30% Ownership in 4.25-Acre Development Parcel

The buyer acquires a 30% ownership interest in the adjacent 4.25-acre General Commercial parcel.

Highlights:

• 700+ Feet of I-95 Frontage

• Zoned General Commercial

• Suitable for Multifamily, Medical, Retail, Self-Storage, or Mixed-Use

• FEMA Flood Zone B/X

• Not in a Special Flood Hazard Area


This embedded land component creates long-term appreciation leverage and redevelopment optionality beyond the stabilized office income.

Investment Thesis

• Direct to seller• 6.34% in-place cap on verified NOI

• 94% leased asset with strong tenant profile

• Long-term lease escalations in place

• Recent 10-year lease execution

• I-95 visibility in prime Palm Beach Gardens corridor

• Embedded land value through 30% ownership stake

• Upside to ~8% cap at stabilization


This is a rare opportunity to acquire stabilized Class A income with built-in growth and development leverage in one of South Florida’s strongest office corridors.


Confidential Off-Market Offering


All materials are proprietary and may not be redistributed without written consent.

Submit All Inquiries or Offers To: investments@promiselandrealtyllc.com


Property Map



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PROMISE LAND REALTY, LLC

Work: 864-762-2509


All Off Market Properties are sold 'As-Is'. Buyer must do their due diligence. Sold on warranty deed. We are selling our assignable interest. You do NOT HAVE PERMISSION to market this property WITHOUT EXPRESSED WRITTEN CONSENT. Proof of Funds is required with all offers. Earnest Money Deposit due within 48 hours of accepted offer. Closings are done quickly and with a title company/closing attorney. Realtors add your fee on top.

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