A health care and life science company scooped up the property.
The asset last sold for $99.5 million.
Zaragon sold an office building in Plantation for $15.7 million, a 5.5 percent discount from the firm’s purchase price six years ago.
Zaragon, a Chicago-based real estate investment firm, sold the two-story 1801 Building at 1801 Northwest 66th Avenue to Mentor, Ohio-based Steris, according to records. Steris is a health care and life science products and services company.
Source: The Real Deal
Gatsby Enterprises has purchased One Town Center, located at 1 Town Center Road in Boca Raton, for $82 million.
The asset last sold for $99.5 million.
In July 2021, KBS acquired the property from a joint venture between prominent commercial real estate firm CP Group, formerly Crocker Partners, and Siguler Guff & Co. for $99.5 million by Prime US REIT (PRIME), which traded on the Singapore Exchange Securities Trading Limits ticker as: OXMU. KBS served as the U.S.-based asset manager for the portfolio, which included identifying and sourcing this asset on PRIME’s behalf.
The 1991-built 10-story building totals 191,294 square feet and features a 151,392-square-foot parking structure. The building is one of the market’s tallest office buildings and was developed before annexation into the City, thus avoiding Boca Raton’s four-story height restrictions.
Wells Fargo provided a $51 million acquisition loan to Gatsby Enterprises.
The SFOBA is a network of Professional Office Leasing Brokers in South Florida. Membership is by invitation only – landlord and tenant representatives are included.
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Plantation Office Building Sells For $15.7M
/in Done Deals, News/by SFOBA STAFFA health care and life science company scooped up the property.
Boca Office Building Trades At $18 Million Loss
/in Done Deals, News/by SFOBA STAFFThe asset last sold for $99.5 million.