Simon Plans Hotel, Apartments, Retail At Former Boca Raton Sears Site
Simon acquired the 18.6-acre Sears site last year for $23 million.
Simon acquired the 18.6-acre Sears site last year for $23 million.
He brings more than 20 years of experience across the public and private sectors spanning real estate development, land use and zoning, urban planning, acquisitions and dispositions, asset management, and public-private partnerships.
The portfolio, which totals 42 residential units, traded for a combined $8.87 million, equating to $211,190 per unit.
The firm first brought on David Bateman as Managing Director for his operational leadership, broker implementation experience, and 20-year track record including senior roles at CBRE and Avison Young.
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The new division is led by Director of Commercial Real Estate Shane McCain.
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Senior Vice Presidents Steve Hyatt and Keith Graves, CCIM, SIOR represented the seller in the transaction.
With sales led by Key International and ONE Sotheby’s International Realty, the building is expected to commence construction within the next 12 months.
Adam Marcuvitz, Joeseph Thomas, Ethan Krauss and Alec Demetriou of Marcus & Millichap exclusively marketed the property on behalf of the seller.
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