City Centre consists of five parcels. Parcels A, B, D and Econtain 93,662 sf of office and retail space on 10.2 acres.Buildings A and B were constructed in 1989 and 1987 respectivelyand Buildings D and E were constructed in 1999. The four one- andtwo-story buildings are occupied by a variety of tenants includingMorgan Stanley, Oppenheimer, Wilmington Trust, and WashingtonMutual. Parcel F is a 3.2-acre vacant lot which has been approvedfor the development of a 75,000-sf office building. The buyers haveretained West Palm Beach-based Walters Gottlieb Partners to handlemanagement and leasing of the property. "City Centre has extensivefrontage on highly desirable PGA Boulevard and US Highway 1 andadjacent to the Intracoastal Waterway and Lake Worth," Miskew says."When you consider the quality of the location, tenant roster andimprovements, this should prove to be an excellent investment forthe new owners."

Fairway Centre SPE LLC acquired Parcels A, B, D and E inNovember 2004 for $19.45 million and acquired Parcel F in May.

West Palm Beach-based RJS Realty Group was the exclusive agentfor the seller and the sole broker in the transaction arranged bypresident Bob Sullivan and managing director Steve Miskew. "This isan exceptionally situated property at a very strategicintersection," says Sullivan. "PGA Boulevard and US Highway Oneform the eastern gateway to Palm Beach Gardens' vibrantDowntown."