Investments Limited acquired the Plumtree Centre from U.S. Bank for $3.1 million, or about $74 per square foot.
Located at 3350 NW 2nd Avenue in Boca Raton, the Plumtree Centre is comprised of two office/retail buildings totaling 41,791 square feet. At the time of sale, the buildings were just 32 percent occupied. The buildings were constructed in 1987 and are located minutes from I-95 and the Boca Raton Airport.
Adam Starr of Brenner Real Estate Group represented the buyer. Brett Houston of REMS Group, Inc. represented the seller in its REO sale.
“This center is well located on Boca Raton Boulevard with great visibility,” Starr said. Speaking to the acquisition of this property, Starr added that it, “really fit the profile of their existing portfolio.”
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