Stigliano Turns Double Play

Reese Stigliano, Senior Vice President with Brenner Real Estate Group, completed a double play for his client, SNG Prosthetic Eye Institute.

Stigliano represented the client in the sale of their office building in Boca Raton and coordinated the relocation to a new leased space in Delray Beach. Reese was assisted in these transactions by his associate, Ken Silberling.

The sale of the 4,010 square foot building, located at 950 NW 9th Court in Boca Raton, closed on Friday, June 13th for $1,225,000.

The buyer was Welcor Holdings, LLC, a local real estate investment firm that plans on leasing the space to a physical therapist. The building, which is located within walking distance to Boca Raton Regional Hospital, sold for over $305 per sq.ft.

“This is a very high price for an empty building,” according to Stigliano, “but the location in east Boca Raton and the unique zoning of MC (Medical Center) made the property very desirable for a medical user.”

Once the building was under contract, the next challenge was identifying a suitable alternative medical space to lease. Also, the client needed to close on the sale and be open for business in the new space virtually the same day without any down time.

Stigliano and Silberling were able to locate a 2,611 square foot medical office condo for lease in the South County Professional Center located at 16244 S. Military Trail in Delray Beach where SNG Prosthetic Eye Institute signed a five (5) year leased valued at over $260,000.

“Reese did an absolutely fabulous job juggling the sale of my building and coordinating the relocation of my company. We sold the building on a Friday and Monday morning I was opened for business in my new location,” according to Nicole Garonzik, owner of SNG Prosthetic Eye Institute.