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Institutional Property Advisors (IPA), a division of Marcus & Millichap dedicated to serving the company’s institutional clients, announced the sale of Deerfield Financial Centre, a two-building, approximately 90,000-square-foot office portfolio in Deerfield Beach.

The property sold all cash for $11,525,000.

Douglas Mandel, IPA executive managing director investments, and Zach Levine of Marcus & Millichap represented the seller, Crown Diversified Industries Corp., and procured the buyer, Rusty Towers LLC, an affiliate of Boca Raton-based Bark Management.

The property was sold on behalf of the original developers and had been held by the family for over 40 years.

Located at the corner of West Hillsboro Boulevard and Military Trail, the buildings are within walking distance of the Deerfield Beach train station. The Deer Creek Golf Club is nearby, and both Interstate 95 and the Florida Turnpike are easily accessible.

Built in 1984 and 1985 on 5.5 acres, the Deerfield Financial Centre comprises 60 office suites ranging in size from 120 square feet to over 4,750 square feet. The property offers 366 parking spaces and features two four-lane drive-thrus equipped with pneumatic tube systems.

Lee & Associates South Florida Principal C. Todd Everett, SIOR, successfully closed the $6.5 million off-market sale of a West Palm Beach office building.

EE Properties WPB LLC acquired Palm Beach Business Center, located at 801 Northpoint Pkwy. property from FLF 801 Northpoint LLC. Everett arranged the sale on behalf of both the buyer and seller, leveraging existing relationships with both sides to make the transaction possible, with the help of Lee & Associates South Florida’s Noah Flornes.

The sale closed on June 10.

Palm Beach Business Center is a 21,150-square-foot office building specializing in executive suites and virtual offices. It is located immediately adjacent to I-95.

“In a challenging broader market, relationships are absolutely vital to get transactions like this across the finish line,” Everett said. “We can leverage such relationships to identify and execute on off-market commercial real estate investment sales opportunities throughout South Florida. We’re fortunate to be in a region with continued strong demand for well-located office buildings like Palm Beach Business Center.”

Based in the firm’s Deerfield Beach office, Everett focuses on office and industrial investment sales and leasing. With nearly three decades of industry experience, Everett brings a breadth of knowledge and a wealth of expertise and dealmaking acumen to Lee & Associates South Florida.

“C. Todd Everett did an exceptional job creating this off-market opportunity for both parties in the transaction,” Lee & Associates South Florida President Matthew Rotolante said. “This deal demonstrates what can be accomplished when combining a dedicated broker’s experience, relationships and market knowledge with the resources and support our firm provides.”

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Institutional Property Advisors Brokers Two-Building Office Portfolio Sale

Lee & Associates South Florida Brokers Off-Market Office Building Sale In West Palm Beach

Institutional Property Advisors Brokers Two-Building Office Portfolio Sale

Lee & Associates South Florida Brokers Off-Market Office Building Sale In West Palm Beach

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Institutional Property Advisors Brokers Two-Building Office Portfolio Sale

Lee & Associates South Florida Brokers Off-Market Office Building Sale In West Palm Beach

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