Butters, PEBB Enterprises Acquire Boca Raton Office Buildings
The transaction marks the first partnership between the two firms.
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The transaction marks the first partnership between the two firms.
The six story, 127,033-square-foot facility, scheduled to open in 2027, is one of the health system’s first major new construction projects in almost 30 years.
The strategy focuses on acquiring and developing early childhood education centers across the United States, including acquisitions of operating schools, sale-leaseback opportunities and value-add repositionings in supply-constrained markets.
The litigation and appellate firm originally signed its lease in the tower in 1996 and is the building’s longest-running tenant.
The 7.75-acre development site sold for nearly $6.6 million.
The master-planned development will include 401 multifamily residences, approximately 426,764 square feet of essential and service-oriented retail, a 125-key lifestyle hotel and an approximately 82,875-square-foot office building.
Strata Wynwood is a 285,000-square-foot mixed-use development comprising 257 luxury residential units with resort-style amenities, 62,000 square feet of office space, 27,000 square feet of ground-floor retail, art studios and a parking garage.
The 6.6 acre property is positioned for a large-scale mixed-use development that also allows for the development of up to 6,602 residential units across residential, office, hotel, and retail.
The acquisition works out to about $156 per square foot for the 6.15-acre property.
The development plans include building an additional 392,000 square feet for a total of three planned state-of-the-art industrial buildings.
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