

Fairway Office Center
Rare Opportunity to Acquire 97% Leased Asset in Thriving Palm Beach Gardens
Marketing description
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.
Investment 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
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