Boutique Office Building In Boca Sells For $9.8 Million

Marcus & Millichap negotiated the sale of 3010 Military, a boutique office building in Boca Raton.

The asset sold for $9,800,000.

“The sale of 3010 Military demonstrates the strength and resiliency of office properties in South Florida,” said Douglas Mandel, executive managing director. “Boca Raton has seen tremendous population growth over the past few years and tenant demand for office leasing remains high.”

Mandel, Tyler Kuhlman, and Zachary Levine, investment specialists in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, an entity tied to Malcolm Butters, and secured the buyer, LMP Boca, LLC.

Located at 3010 N. Military Trail, the 30,000-square-foot office building is situated between Yamato Road and Glades Road. The property is 1.5 miles from Interstate 95 and just four miles from the new Brightline station on Palmetto Park Road.

Currently, the building is fully-occupied by five tenants. The property features ample parking, with a ratio of six spaces per 1,000 square feet, including 41 covered spaces in a ground-floor garage. In 2016, the building underwent significant upgrades, including modern interior improvements, new doors, and improved building systems. Additionally, the site can accommodate an additional 7,100-square-foot annex building, offering expansion potential.