non-advertiser
Alex D. Zylberglait, Senior Managing Director of Investments in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was also secured and represented by Zylberglait.
The development site will be home to The M Tower, an approved 53-story, 440-unit apartment tower.
The tenant leased the entirety of Building Two and half of Building One.
As part of the agreement, Boynton Beach’s Department of Economic Development and Strategy will provide a one-time $50,0000 grant for programming within the space.
The transaction was brokered by Jordan Gimelstein and David Spitz of Koniver Stern Group.
The buildings total 252,244 square feet.
Skyler Marinoff represented both the buyer and seller in the off-market transaction.
The real estate investment management group purchased the 109,497-square-foot building for $44.6 million.
Canopî will feature a variety of restaurant and entertainment concepts and a mix of retail and creative offices.
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.
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