PALM BEACH, FL—Palm Beach County's officemarket is seeing some action in the fourth quarter. A40,316-square-foot class A office building and adjacent 6.2-acreslocated at the Research Park at Florida Atlantic University inDeerfield Beach, FL, has traded hands. The officeproperty is located at 1501 SW FAU Research Park Boulevard.

Avison Young brokered the deal, marking theninth South Florida sales transaction the firm has completed in thepast two months. Avison principal Keith O'Donnelland associate Jonathan Senn, both with Avison'sCapital Markets Group, represented the seller.

“The building's contemporary design combined with its convenientaccess to I-95 and adjoining fully entitled development parcelprovides for future expansion space and makes it an ideal fit for arapidly expanding company like People's Trust,” says O'Donnell.People's Trust Insurance Company, a Florida-based company thatprovides affordable homeowner's insurance to Florida residents,plans to use the Research Park at FAU Deerfield Beach building asits corporate headquarters with the land as future expansionspace.