Palm Beach Gardens office building sells for $25m

Owens Realty Capital and Galium Capital acquired a class A boutique office building in Palm Beach Gardens, Florida, for $25.1m. Holliday Fenoglio Fowler represented the seller, GLL Real Estate Partners, and also arranged a seven-year, fixed-rate acquisition loan through Regions Bank. Completed in 2006, the 67,500 sq ft building changed hands for just under $372 per sq ft. The asset is currently 95 percent leased to tenants like Nason, Yeager, Seacoast National Bank, McNicholas & Associates and TEKsystems.