Marcus & Millichap Negotiates Sale Of Class A Office Building In Boca Raton
Douglas Mandel, along with Tyler S. Kuhlman and Zachary Levine of Marcus & Millichap, represented the seller in the transaction.
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Douglas Mandel, along with Tyler S. Kuhlman and Zachary Levine of Marcus & Millichap, represented the seller in the transaction.
The lease allows Tricera to seamlessly backfill space to be vacated by Comerica Bank, which is moving out of 1675 Midtown when its lease expires in June 2023.
Tricera is scheduled to deliver possession to its tenants by Q4 2022.
This is the first time the property has sold since it was established over two decades ago.
Tricera and Merrimac closed the acquisition of the ±16,500 square feet of retail and restaurant space in August 2020
Tricera acquired the buildings for $13.25 million in January 2019.
Echelon Fitness is set to occupy 10,035 square feet.
Developed by RedSky Capital, LLC, the property is an 8-story building with approximately 100,000 square feet of office and retail with a verdant rooftop terrace.
Tricera Capital obtained $50.75 million in financing for the adaptive re-use project.
The annual celebration, which acknowledges excellence throughout the South Florida commercial real estate (CRE) industry, will be held Thursday, May 20th, outdoors at the Fort Lauderdale Marriott Harbor Beach Resort & Spa with limited capacity from 5:30 to 9 p.m.