954-812-6234
7108 Fairway Dr, Palm Beach Gardens, FL for Sale
Medical - FOR SALE
1/11
null | Request Cap Rate

7108 Fairway Dr
Palm Beach Gardens, FL 33418
PGA Resort Community


HIGHLIGHTS

  • Significant Mark-to-Market: In-place rents average 30% below market presenting the opportunity to grow NOI ~50% over the next 5 years
  • South Florida’s Best Micro Market: PGA Blvd average occupancy of 95% with no new construction in the market
  • Premier Location: Immediate access to the Florida Turnpike along with the region’s most prestigious executive neighborhoods
  • High Barrier to Entry: Rare acquisition opportunity in the tightly-held PGA Blvd corridor substantially below replication costs

OVERVIEW

Jones Lang LaSalle (“JLL”) has been retained as the exclusive sales advisor for Fairway Center (the “Property”), a boutique 47,818-square-foot office building in the prime Palm Beach Gardens submarket of Palm Beach County. The Property is 97% leased by an established roster of tenants with an impressive 8.7-year weighted average tenant tenure (WATT), demonstrating exceptional stability. Fairway Center has consistently outperformed the PGA corridor micro-market, maintaining 92% average occupancy over the past decade compared to the market’s 90% during the same period. Institutionally maintained since delivery and recently refreshed, the Property presents an opportunity to grow NOI by 50% over the next five years, primarily driven by significant mark-to-market potential as in-place rents currently average 30% below market rates. Adding to this upside, the Property’s established presence as a medical destination offers distinct business plan optionality, allowing future ownership to capitalize on the sector’s resilient demand. With no new office buildings under construction in the market today, new ownership can continue to grow rates while maintaining a discount to replacement cost rents, which exceed $70/SF NNN. Fairway Center’s irreplaceable location provides immediate access to The Florida Turnpike as well as seamless access to the region’s most prestigious executive neighborhoods and premier lifestyle amenities, including the renowned PGA National Resort and Spa and numerous exclusive country club communities. This offering represents a rare acquisition opportunity in the tightly-held PGA Boulevard corridor, combining defensive cash flow with compelling value creation potential in South Florida’s most resilient office submarket.

FOR SALE DETAILS

PRICE

Request Info for Price

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Fairway Office Center

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

A

YEAR BUILT

1989

SPRINKLERS

-

PARKING SPACES

227

LAND DETAILS

LAND ACRES

4.01 AC

LAND SF

174,523 SF

ZONING

PCD, P B Gardens

APN/PARCEL ID

52-42-42-10-00-000-1100

ASK ABOUT THIS PROPERTY

Max LescanoJLLMore Info
954-812-6234

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Max LescanoJLLMore Info
954-812-6234

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.