Professional Centre at the Gardens
Premier Suburban Office in Main & Main Location
Marketing description
CALL FOR OFFERS: June 16, 2026 by 5:00 PM EST.
On behalf of ownership, the Colliers | Rubin Schauer Investment Sales Team is pleased to present for sale the Professional Centre at the Gardens (the "Property"), located at 11601-11641 Kew Gardens Avenue in the heart of Palm Beach Gardens, Florida. The Class A office Property is currently 92.25% leased and offers stable in-place cash flow supported by a well-maintained, institutionally managed asset with a diversified base of medical and traditional office tenants.
The Property benefits from irreplaceable proximity to the region's dominant retail and lifestyle amenities, including Legacy Place and The Gardens Mall, as well as immediate access to PGA Boulevard, I-95, and Florida's Turnpike. This central location continues to serve as a primary driver of tenant demand, particularly for credit tenants seeking high-quality suburban office environments with strong amenity access. The planned redevelopment of the adjacent former Sears site by Forbes, including about 200,000 square feet of new retail, further reinforces the long-term strength and evolution of the surrounding trade area.
Institutionally maintained and functionally efficient, the Property features a limited loss factor, impact glass construction, and separately metered electric systems, supporting strong operational performance.
Recent capital improvements include TPO roof replacements completed between 2015 and 2017 (with a 2025 inspection confirming no issues), ongoing HVAC replacement cycles, elevator systems with remaining useful life, and a full exterior repaint completed in 2024.
A primary value driver is the meaningful mark-to-market opportunity, with in-place rents estimated to be approximately 15% below current market levels, complemented by additional upside from remaining vacancy. This creates a direct and achievable path to near-term NOI growth under new ownership, supported by continued flight-to-quality demand in well-located Class A suburban assets.
Professional Centre at the Gardens represents a rare opportunity to acquire a highly functional, institutionally maintained office asset in a premier Palm Beach Gardens location, combining durable in-place income with a compelling and executable rent growth story in one of the region's most desirable office corridors.
Investment highlights
- Premier “main-and-main” Palm Beach Gardens Location with immediate access to PGA Boulevard, I-95, Florida’s Turnpike, and adjacency to Legacy Place and The Gardens Mall.
- Stable in-place cash flow at 92.25% occupancy, supported by a diversified tenant base and institutionally maintained Class A office product.
- Embedded mark-to-market upside of approximately 15% below market rents, providing a clear and achievable path to near-term NOI growth.
- Strong submarket tailwinds driven by ongoing amenity expansion, including the planned Forbes redevelopment of the adjacent former Sears site (~200,000 SF of retail).
- Functional, efficient, and well-maintained asset, featuring impact glass, low loss factor design, separately metered electric, and recent capital improvements ensuring operational durability.
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