CBRE has completed the sale of two office properties and an industrial warehouse in Boca Raton in separate transactions totaling $15.5 million. All three properties were fully leased at the time of sale and were previously owned by one private investor who sold each property to a different buyer.
CBRE’s Benjamin Silver and Sebastian Misiewicz represented both parties in the separate transactions outlined below:
In the first transaction, a private buyer acquired 14 office units—and majority interest— in The Heritage, a 22-unit fully renovated office condominium building totaling 10,000 square feet at 2263 NW Second Ave. The fully leased property sold for $2,225,000.
In the second transaction, Investments Limited purchased Sainte George, a 22,425-square-foot, Class A condominium office building at 2701 Boca Raton Blvd. The two-story building consists of 32 office suites ranging from 400 square feet to 1,000 square feet. The fully leased property sold for $6,350,000.
In the third transaction, Midtown Capital purchased West Rogers Circle, a 36,861-square-foot small-bay warehouse park located at 6453 W. Rogers Circle near the intersection of Interstate 95 and State Route 794. The fully leased property sold for $ 6,918,483.
“CBRE was able to successfully procure buyers for three well-located assets in the desirable Boca Raton market in under three months, despite the recent slowdown in the market due to rising interest rates,” said CBRE’s Silver.
All three properties are near Florida Atlantic University, the Boca Raton Airport, Boca Raton Regional Hospital, Interstate 95 and the Florida Turnpike.
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