Tag Archive for: castle boca llc

Reese Stigliano Announces Boca Raton Regus Opening

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Reese Stigliano, President of Stigliano Commercial Real Estate, has announced the completion of a Regus-branded coworking facility at 6501 Park of Commerce Blvd in Boca Raton.

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.

This new location marks the third Regus facility in the city. The 13,000-square-foot workspace is designed to cater to the growing demand for flexible office solutions, particularly among professionals seeking hybrid work environments. The choice of this location is strategic given its proximity to residential areas, making it convenient for workers who prefer to work closer to home.

Mr. Stigliano was deeply involved in several aspects of this project. He not only served as the exclusive leasing agent, but also took on multiple roles such as the Owner’s Representative, negotiator for the Regus transaction, and oversaw tenant improvements and design. His contributions were critical to both securing Regus and ensuring that the property was prepared to meet its needs as well as those of the owner, Castle Boca, LLC.

With over 40 years of experience in the South Florida commercial real estate market, Reese Stigliano is a recognized leader in the industry. As President of Stigliano Commercial Real Estate, he specializes in land sales, investment sales, and office leasing. His expertise in closing complex commercial transactions has been a hallmark of his successful career.

 

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.