(left to right) Sean Greene, Michael Steinger, and Michael Feiner with 11360 North Jog Road 101 (SGF, Loopnet)
A trio of Phoenix-based personal injury law partners paid $8.6 million for an office building in Palm Beach County.
An entity managed by Sean Greene, Michael Steinger and Michael Feiner bought the two-story building at 11360 North Jog Road 101 in Palm Beach Gardens, records show. The three lawyers head Greene, Steinger & Feiner, a personal injury law firm with offices in 18 U.S. cities, including Coral Gables, Miami, Fort Lauderdale and West Palm Beach, according to the firm’s website. The law firm’s TV commercials also run in South Florida.
The deal breaks down to $337 a square foot.
The seller, an affiliate of Palm Beach Gardens-based real estate development, investment and property management firm John C. Bills Properties, paid $1 million for the property in 2001, records show. Completed in 2005, the 25,496-square-foot building is part of Mirasol Town Square, a seven-building office park built by John C. Bills.
Founded in 1972 by its principal, Bills, the firm has developed and managed more than 10 million square feet of space in Palm Beach County, according to its website.
Commercial and residential development and investment is booming in Palm Beach Gardens. Last month, developer Centaur Holdings scored a $170 million financing package for the construction of Panther National, a residential community that will have 218 single-family homes, an 18-hole Jack Nicklaus-designed golf course, a golf training center, a 40,000-square-foot clubhouse, and a health and lifestyle club.
Developer Dan Catalfumo plans to launch sales this month of a waterfront Palm Beach Gardens luxury condo project, where units will begin at close to $4 million.
New York-based Pantzer Properties is among the institutional investors wheeling and dealing in Palm Beach Gardens, acquiring a 136-unit apartment complex for $66.5 million in April.
In January, Doral-based Parmenter Realty Partners paid $81.2 million for the Fairway Office Center in Palm Beach Gardens.
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