Boca Office Building Trades For $15M

CB Richard Ellis (CBRE) Capital Markets arranged the sale of 1200 Corporate Place to Keystone Property Group for $15,250,000 (or $111 per square foot).
The four-story, 137,021-square-foot office building is a premier office building located in South Florida’s prestigious Boca Raton submarket. As of last month, the building was listed at approximately 54% occupied.
CBRE was engaged by Equity Office to represent them in the sale of the asset. The purchaser, Keystone Property Group, is a Pennsylvania-based real estate developer, who owns other significant assets in South Florida. The marketing team was led by Christian Lee, vice chairman, of CBRE’s Miami office, and included CBRE South Florida professionals Charles Foschini, Christopher Apone, Scott O’Donnell, Jeffrey Kelly, and Dominic Montazemi.
The property is home to both national and regional tenants including Sun American Bank, National Holdings Corporation, Perr & Knight, Inc., and Striano Financial Group.

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