Institutional Property Advisors Brokers Office Asset Sale in Palm Beach County for $15.5 Million
January 15, 2026
PALM BEACH GARDENS, Fla., Jan. 15, 2026 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) dedicated to serving the company’s institutional clients, announced today the sale of the PGA Design Center, a 43,878-square-foot professional building located within PGA Station, a mixed-use development in Palm Beach Gardens, Florida. The property sold for $15.5 million.
“Located in one of South Florida’s most affluent and supply-constrained markets, the property benefits from long-term tenancy, strong lease commitments, and the demand drivers of a master-planned environment that integrates office, medical, retail and hospitality,” said Douglas Mandel, IPA executive managing director investments. Mandel, along with Zach Levine and Cody Hershey of Marcus & Millichap represented the seller, PGA Design Partners LP, with support from the Falk Weprin team at Colliers. The Marcus & Millichap team, in collaboration with Colliers executive vice president Scott Weprin, sourced the purchaser, LRP Properties 3901 LLC.
The property is just off RCA Boulevard, close to PGA Boulevard, and Interstate 95. The Gardens Mall, Downtown at the Gardens, and the PGA National Resort and Spa are nearby.
Within a three-mile radius, the population is over 79,000 and the annual median income is more than $439,000.
Built in 2006, the PGA Design Center’s tenants are New Radiance Cosmetic Centers, Score At The Top Learning Centers and Schools, and Outside the Box Coastal Home Furnishings. At the time of the sale, the center was 100% occupied.
“Located in one of South Florida’s most affluent and supply-constrained markets, the property benefits from long-term tenancy, strong lease commitments, and the demand drivers of a master-planned environment that integrates office, medical, retail and hospitality,” said Douglas Mandel, IPA executive managing director investments. Mandel, along with Zach Levine and Cody Hershey of Marcus & Millichap represented the seller, PGA Design Partners LP, with support from the Falk Weprin team at Colliers. The Marcus & Millichap team, in collaboration with Colliers executive vice president Scott Weprin, sourced the purchaser, LRP Properties 3901 LLC.
The property is just off RCA Boulevard, close to PGA Boulevard, and Interstate 95. The Gardens Mall, Downtown at the Gardens, and the PGA National Resort and Spa are nearby.
Within a three-mile radius, the population is over 79,000 and the annual median income is more than $439,000.
Built in 2006, the PGA Design Center’s tenants are New Radiance Cosmetic Centers, Score At The Top Learning Centers and Schools, and Outside the Box Coastal Home Furnishings. At the time of the sale, the center was 100% occupied.
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About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.