Grover Corlew Purchases Downtown Boca Raton Office Tower In Off-Market Deal
The real estate investment management group purchased the 109,497-square-foot building for $44.6 million.
The real estate investment management group purchased the 109,497-square-foot building for $44.6 million.
The properties, located at 3240 SE 6th Avenue and 501 SE 33rd Street in Fort Lauderdale were sold to an owner/user for $1,475,000.
Canopî will feature a variety of restaurant and entertainment concepts and a mix of retail and creative offices.
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Drew A. Kristol and Kirk D. Olson, investment specialists in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, an affiliate of Lombardi Properties and Bayshore Investment Partners.
Larry Dinner of CBRE is the leasing representative for IDI Logistics for the new building.
Bridge Industrial had the property rezoned and subsequently built two Class A industrial Building for a total of ±174,129 SF.
The sale price equates to $136,750 price per unit; $200 per square foot; and a 4.8% capitalization rate.
Steven Hurwitz, managing director with JLL, represented the landlord partnership in the transactions.
The boutique firm was founded in 2016.
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