Berger Commercial Realty Negotiates $24 Million Purchase of Palm Beach County Portfolio
FORT LAUDERDALE, Fla. (September 29, 2014) – Berger Commercial Realty announced the opening of a new office in Boynton Beach as a result of a $24 million deal it negotiated for its client, Kendall Properties.
Kendall Properties purchased a 280,000-square-foot office portfolio from LouJA Realty in a deal that closed on Friday, Sept. 26th. The portfolio consists of seven buildings on four different properties in Boynton Beach and Delray Beach.
“Our client recognized that Palm Beach County offers better upside and saw the opportunity this portfolio provided,” said Berger Commercial Realty President and founder Lloyd Berger, who brokered the deal on behalf of Kendall Properties.
Berger Commercial Realty plans to hire six full-time staff members in its Boynton Beach office to manage and lease the buildings in the Kendall Properties portfolio, as well as existing assignments in Palm Beach County. The regional commercial real estate firm also has offices in Fort Lauderdale and Miramar, where its property management team currently oversees 7 million square feet of space throughout the tri-county area.
The Palm Beach County portfolio consists of:
- the Delray Office Park, located at 4723, 4731 and 4733 W. Atlantic Ave. in Delray Beach;
- the Woolbright Corporate Park, located at 1901 and 1903 S. Congress Ave. in Boynton Beach;
- the Gulfstream Professional Building, located at 500 Gulfstream Boulevard in Delray Beach;
- and the Woolbright Professional Building, located 2240 W Woolbright in Boynton Beach.
Ranked among the largest commercial real estate firms in South Florida, Berger Commercial Realty provides comprehensive, cost-effective property management and brokerage services to both institutional and non-institutional owners. For more information, visit bergercommercial.com.