- For Sale $28,500,000
- Property Type Office - General Office
- Property Size 61,000 SF
- Units 1
- Lot Size 0.63 Acre
- Property Tenancy Single Tenant
- Building Class A
- Year Built 2020
- Date Updated Mar 28, 2024
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Highlights
- Prime Class A Construction: Built in 2020, this Class A property is a generational asset. Its superior quality and design, combined with a long-term net lease to a strong credit tenant, with an assumable $14 million non-recourse loan, make this a once in a lifetime investement opportunity.
- Assumable Bank Loan: The property's loan is fully assumable, with a 0.5% assumption fee, offering new ownership the opportunity to eliminate financing risk and immediately begin earning secure annual cash flow.
- Below Market Rent: At $23.70 per square foot, the current rent is more than 55.3% below market asking rates, providing long term potential for increased returns.
- Zero Operational Costs: With a true net lease structure, there is absolutely no exposure to the landlord for operational costs or responsibilities. The tenant takes care of all expenses directly.
- Investment-Grade Credit: TBC's parent companies, Sumitomo (S&P: A-) and Michelin (S&P: A-), offer investment-grade credit, adding to the property's appeal and financial security.
- TBC Corporation Lease Guarantee: TBC Corp. guarantees the lease, further strengthening the the investment.
- Established HQ Campus: TBC occupies space in four buildings within PGA Station, solidifying their headquarters campus in the area.
- Tenant Commitment: TBC Corp. invested over $3 million in their own interior office build-out, illustrating their long-term commitment to this property.
- Secure Lease Terms: The property features a 10-year lease with 6+ years remaining, plus two renewal options, and no termination options, providing stability and consistent cash flows.
- Superior Risk-Reward Profile: This investment opportunity offers a superior risk-reward profile when compared to competitive absolute net-leased alternatives.
- Proximity to Future Tri-Rail Station: Situated less than 100 yards from a future Tri-Rail train station, the property is well-positioned to benefit from expanding transportation options.
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Contacts
Location
Getting Around
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Walk Score ®
42/100 Car-Dependent -
Bike Score ®
52/100 Bikeable
- City Palm Beach Gardens, FL
- Neighborhood Northcorp Center
- Zip Code 33410
- Market West Palm Beach Boca Raton
Points of Interest
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Mangonia Park
5.87 miles
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West Palm Beach
9.16 miles
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West Palm Beach
9.31 miles
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PGA Shell
0.16 miles
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Mobil
1.53 miles
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Sunoco
1.76 miles
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Speedway
2.57 miles
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Marathon
2.67 miles
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Sunoco
2.92 miles
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7-Eleven
3.66 miles
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Chevron
3.99 miles
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Shell
3.99 miles
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RaceTrac
3.99 miles
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The Gardens Mall
0.68 miles
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The Gardens Mall
0.86 miles
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Blue Lot
0.99 miles
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Aqua Lot
1.11 miles
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Seminole Golf Club
3.29 miles
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Lot 77
3.35 miles
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John D MacArthur Beach State Park
3.46 miles
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Lot 70
3.48 miles
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Bluffs Square Shoppes
4.29 miles
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Beach Parking
4.48 miles
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Residence Inn by Marriott Palm Beach Gardens
0.07 miles
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Hampton Inn Palm Beach Gardens
0.20 miles
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Palm Beach Gardens Marriott
0.27 miles
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DoubleTree by Hilton Hotel
0.45 miles
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Embassy Suites by Hilton Palm Beach Gardens PGA Boulevard
0.48 miles
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Camelot Motor Lodge
2.42 miles
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Super 8
2.69 miles
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Super 8 by Wyndham North Palm Beach
2.70 miles
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PGA National Resort
2.86 miles
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Courtyard by Marriott Palm Beach Jupiter
3.59 miles
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Moe's Southwest Grill
0.41 miles
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Sal's Pizza
0.42 miles
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Newk’s Eatery
0.43 miles
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Yard House
0.48 miles
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Avocado Grill
0.48 miles
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Whole Foods Market
0.49 miles
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Five Guys
0.49 miles
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Fro-Yotopia
0.50 miles
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Grimaldi'd Brick Oven-Pizzeria
0.57 miles
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Texas de Brazil
0.60 miles
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Saint Clares
0.51 miles
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Palm Beach Community College at Palm Beach Gardens Center for Early Learning
0.81 miles
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Greenacres Country Day School
0.94 miles
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Palm Beach State College at Palm Beach Gardens
1.06 miles
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Palm Beach Gardens High School
1.17 miles
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Watson B Duncan Middle School
1.20 miles
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Palm Beach Gardens Elementary School
1.31 miles
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Timber Trace Elementary School
1.38 miles
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North Transition Elementary School
1.40 miles
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Dwight D Eisenhower Elementary School
1.44 miles
Frequently Asked Questions
What is the lease rate for TBC Corporate Headquarters?
Rental asking rate at TBC Corporate Headquarters is $14,250,000.00/YR.
What is the total square footage of TBC Corporate Headquarters?
TBC Corporate Headquarters totals 61,000 square feet.
When was this property built?
TBC Corporate Headquarters was built in 2020.
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