Tag Archive for: 6531 park of commerce blvd

Meridian Center Of Boca Raton Achieves 95% Occupancy

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Meridian Center of Boca Raton, a premier two-building, 52,000-square-foot office campus located at 6501 and 6531 Park of Commerce Blvd. within the prestigious Park at Broken Sound business park, has reached 95% occupancy, according to Reese Stigliano, President of Stigliano Commercial Real Estate.

In the latest lease transaction, Barentz North America, LLC has renewed their lease for 14,408 square feet. Barentz is a global specialty ingredients distributor and solutions provider. Barentz serves customers across multiple industries including Human & Animal Nutrition, Personal Care, Plastics, Household Care, Industrial & Institutional Cleaning, Pharmaceuticals, and Specialty Intermediates.

Stigliano represented the landlord in this transaction.

“The strong leasing activity at Meridian Center is a testament to the quality of ownership, professional property management, and the site’s exceptional accessibility,” said Stigliano. “Tenants benefit from unmatched connectivity to I-95, Tri-Rail, Brightline, Boca Raton Executive Airport, Palm Beach International Airport, and Fort Lauderdale-Hollywood International Airport.”

Reese Stigliano, President of Stigliano Commercial Real Estate, is a seasoned veteran of the South Florida commercial real estate market, bringing over 40 years of experience to the industry. He specializes in office leasing, investment sales, and land transactions, and also serves as a registered governmental lobbyist. In this role, he advises clients on zoning, land use, and site plan approvals, providing strategic guidance through complex regulatory environments.

Stigliano Closes Sale Of Boca Raton Office Buildings

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Reese Stigliano, president of Stigliano Commercial Real Estate, announced the sale of 6501 & 6531 Park of Commerce Blvd. in Boca Raton.

The property consists of 2 multi-tenant office buildings totaling 52,000 square feet. The buildings are situated on 4.35 acres in the prestigious Park at Broken Sound, formerly known as Arvida Park of Commerce, located just north of Yamato Road west of I-95 in Boca Raton.

6501 park of commerce blvd

The sale closed on December 21 for $8.9 million, which equates to $170 per square foot. Stigliano represented the Buyer, Castle Boca, LLC, in the transaction. CBRE’s Jeff Kelly, Sean Kelly and Dave Wigoda represented the Seller, MTI PROPERTIES FLORIDA LLC.

According to Stigliano, “The transaction took over 6 months to close which is significantly longer than usual in today’s market.”

The Buyer assumed a $5.1 million existing Commercial Mortgage-Backed Securities (CMBS) Loan.

“CMBS loans are desirable due to lower interest rates but they are very expensive to prepay and the procedure to assume is arduous. Fortunately, the Seller and Buyer had the patience to work though the loan assumption process,”  he added. 

Stigliano Commercial Real Estate has also been appointed the exclusive leasing agent for the property, which has approximately 13,000 square feet of vacant space.

Reese Stigliano is a recognized leader in the South Florida commercial real estate market, with over 40 years of experience. As President, he focuses on land sales, investment sales and office leasing for the firm. Stigliano’s talent in bringing complicated commercial transactions to a close has been evident throughout his successful brokerage career.