Boca's Polo Commerce Center Trades For $96 PSF

Marcus & Millichap announced the sale of Polo Commerce Center, a 55,746- square foot multi-tenant, industrial/flex/showroom property, located along Clint Moore Road in Boca Raton.
The asset sold for $5,375,000 representing $96 per square foot.
The seller, a Boca Raton limited liability company, was represented by Douglas K. Mandel, a first vice president investments, and Daniel Greenberg, a director with Marcus & Millichap Capital Corporation, in the firm’s Fort Lauderdale office.
“Interest in industrial properties throughout South Florida has been very strong and as a result, highly competitive.  The Polo Commerce Center offered a rare opportunity to acquire stabilized multi-tenant industrial product in Boca Raton, a market with limited supply,” says Mandel.
Polo Commerce Center consists of 55,746 rentable square feet of showroom and warehouse space in two buildings. The property is currently 91 percent occupied and over half of the tenants have been in occupancy for 10 years or longer.
Polo Commerce Center is located at 1000 Clint Moore Road in Boca Raton, FL.

 

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