PEBB Enterprises Sells Boca Raton Office Building For $14 Million
The $14 million sale was an off-market deal.
The $14 million sale was an off-market deal.
The approved site plan encompasses over 405,000 square feet of office space in two buildings, four new retail and restaurant outparcel buildings totaling nearly 43,000 square feet, a nearly 37,000-square-foot luxury fitness facility and 500 multifamily units.
The property is currently 100% occupied and has historically operated at full occupancy during Urban Street Development’s ownership.
The property is being redeveloped into a mixed-use campus by Related Group, BH Group, and PEBB Enterprises.
The four-story, 93,219-square-foot boutique office building traded for $20 million.
With 10 years of brokerage experience, he is recognized as a leading expert in office space throughout Palm Beach County.
The 2-building, 170,000-square-foot campus is currently undergoing a $60 million renovation.
The portfolio is primarily located in Miami-Dade, Broward, and Palm Beach counties and stands to benefit from the Golden Glades Interchange Enhancement.
The lease deals drive total occupancy in the trophy office complex to 95 percent.
The leases total more than 11,500 square feet.
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