Cushman & Wakefield has arranged the sale of Clive Daniel Home, a 68,389-square-foot single-tenant, net leased commercial property located along the Glades Road corridor at 1351 NW Boca Raton Blvd. in highly affluent Boca Raton. The final sale price was $18.25 million, equating to $267 per square foot.
Scott O’Donnell, Mike Ciadella, Greg Miller, Dominic Montazemi, Miguel Alcivar, Jason Hochman, and Ron Granite of Cushman & Wakefield represented the seller, MB-BW Boca LLC, in the transaction. The selling entity’s operating partner was Malcolm Butters, CEO of Butters Development & Construction. The property was acquired by an affiliate of The Becker Organization, a private investment firm led by Bryan Becker.
“Bryan Becker, CEO of The Becker Organization, appreciated the security of the long-term lease to Clive Daniel Home, which has differentiated itself from other furniture stores as a niche provider of both high-end designer furniture and interior design services,” said O’Donnell, Executive Managing Director at Cushman & Wakefield.
Since 2016, the retail property has been fully leased by Clive Daniel Home and was developed as a two-story build-to-suit showroom for the company’s South Florida flagship store. Key features include excellent visibility from Glades Road ideal to serving the affluent demographic of Boca Raton and South Florida.
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