Class A Office Building In Boca Fetches $99.5 Million
The 10-story building is considered one of the premier office properties in Boca Raton.
The 10-story building is considered one of the premier office properties in Boca Raton.
The 240,669-square-foot building was 95% leased at the time of the sale.
The property covers 25 acres.
CBRE’s Larry Genet, Tom O’Loughlin, and Jake Zebede represented the owner in the sale of the industrial warehouse.
“Like any great deal, this one was 5 years in the making. It was an extreme lesson in perseverance,” commented Genet.
CBRE Senior Vice President Larry Genet, Executive Vice President Tom O’Loughlin , Executive Vice President Jose Lobón, Vice Chairman Christian Lee and Senior Associate Jake Zebede represented Brookfield Asset Management in the purchase
The report further highlights need for more industrially designated land in the southern portion of Miami-Dade County in order to properly service residents in today’s e-commerce economy.
New York-based Angelo, Gordon & Co., L.P. (“Angelo Gordon”) and Delray Beach-based Redfearn Capital formed a new programmatic joint venture to acquire value-add industrial properties throughout Florida with a concentration in South Florida.
The lease deal brings Building G at Davie Business Center, which totals 114,774 square feet, to 100% leased.
The Butters Realty & Management Industrial Brokerage Team represented the interest while Tom O’Loughlin, Executive Vice President with CBRE represented the landlord in the deal.
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