9-Acre Land Site Fetches $10 Million
Avison Young Principal Keith O’Donnell and Colliers Executive Managing Director Mark Rubin coordinated the off-market transaction.
Avison Young Principal Keith O’Donnell and Colliers Executive Managing Director Mark Rubin coordinated the off-market transaction.
The project is expected to cost over $500 million to develop.
The building sits on five acres in Sawgrass International Corporate Park.
Totaling 1.38 acres on the block running up to the iconic Lincoln Road, the portfolio includes 1.21 acres or 52,500 square feet of contiguous developable lots with an existing 55,516-square-foot mixed-use/retail structure along Alton Road and an additional 0.17-acre or 7,500-square-foot parking lot on the West Avenue side.
The 56,072-square-foot building is located within Miramar Park of Commerce.
The sale consists of three folios totaling 13,000 square feet of land, with the southernmost folio hosting a 3,111-square-foot single-story building.
Avison Young’s Michael T. Fay and his team – John K. Crotty, David Duckworth, Brian C. de la Fé, and Berkley K. Bloodworth are spearheading the sale, pro bono.
As part of the agreement, Boynton Beach’s Department of Economic Development and Strategy will provide a one-time $50,0000 grant for programming within the space.
The office building represents McGuire Development Company’s first Southeast Florida acquisition.
Avison Young’s Florida Capital Markets Group negotiated the sales.
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