Meridian Center Of Boca Raton Achieves 95% Occupancy
Reese Stigliano, President of Stigliano Commercial Real Estate, represented the landlord in the transaction.
Reese Stigliano, President of Stigliano Commercial Real Estate, represented the landlord in the transaction.
Selling for $4.7 million on Jan. 8, the property was designated a Federal Brownfield site in 1999. Stigliano Commercial Real Estate was instrumental in guiding the cleanup process and worked collaboratively with the property owner on redevelopment plans for more than seven years.
In the latest lease transaction, The Farmer’s Dog signed a lease for the entire ground floor of the 6501 building located within the Park at Broken Sound Business Park.
The Regus facility will occupy the entire second floor of the building, spanning approximately 13,000 square feet. The space will feature 58 private offices, three meeting rooms, and a large co-working area.
With housing prices continuing to rise despite the uncertainty, more time worked out favorably.
Stigliano was the broker on the transaction and also worked as the Zoning and Land Use Consultant on the project.
Stigliano represented the Buyer, Castle Boca, LLC, in the transaction.
Reese Stigliano, President of Stigliano Commercial Real Estate, represented the sellers, Neill Farms FP, LLC.
The deal closed only 10 days after the contract was signed.
Stigliano was also able to refer the Buyer to a lender that specialized in medical owner-occupied buildings. The lender provided the first mortgage which included additional funds for tenant improvements at a very low interest rate which made the transaction even more attractive.
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