Tag Archive for: pebb enterprises

PEBB Enterprises Purchases Boca Raton Office Property For $29.85 Million With Partner

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PEBB Enterprises, in partnership with Contrarian Capital Management, has acquired the Meridian Office Center in Boca Raton. The joint venture purchased the 11.14-acre property within The Park at Broken Sound for $29.85 million. The purchase marks PEBB’s third acquisition in the prestigious business park.

The 131,680-square-foot property consists of two single-tenant net leased buildings. Cross Country Healthcare occupies the 70,406-square-foot building located at 6551 Park of Commerce Boulevard, and Lexis Nexis occupies the 61,274-square-foot building located at 6601 Park of Commerce Boulevard.

The transaction closed on June 30. Professional Bank handled the financing for the purchase and Christian Lee, Jose Antonio Lobon and Marcos Minaya from CBRE represented the seller in the transaction.

“Our team is constantly looking for opportunities to expand our South Florida portfolio, especially in the thriving Boca Raton office market,” PEBB President and CEO Ian Weiner said. “We have always had great interest in properties located within The Park at Broken Sound and we are excited to be able to grow our footprint in the area.”

The Park at Broken Sound is a 700-acre mixed-use business park conveniently located directly off I-95. It offers free shuttles to and from the city’s Tri-Rail station and has easy access to lifestyle, entertainment and recreation centers nearby.

PEBB Enterprises also owns the 5900 Broken Sound building leased to Infinity Sales Group, and the ADT Building, which is home to the security giant’s corporate headquarters. Both buildings are in The Park at Broken Sound.

Over the last year, PEBB has been extremely active in the Boca Raton office market with acquisitions of the 308,305-square-foot Research Park at Florida Atlantic University and the 61,188-square-foot Eighteen Zero One Building located on North Military Trail.

 

Cool Drone Shots of 6400 Andrews – And Don’t Miss Our Broker Lunch Thursday July 30

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Hover over picture and click on arrow to advance the slide show

The 6400 Building is a five-story 55,000 square foot Class-A office building in Fort Lauderdale’s Cypress Creek or Uptown submarket. We hope you enjoy these great drone photos taken in June that show the buildings strategic I-95 location that combines uptown convenience with downtown amenities.

The building was developed by the Stiles Corporation in the mid 1980s and served as the company’s headquarters. Many of Broward County’s top office and retail developments were born within our blue glass facade. The property was purchased by Pebb Enterprises in 2004 and served as Pebb’s headquarters until they moved to Boca Raton in 2012.

Pebb Enterprises is one of the nation’s premier Real Estate Investment, Development, and Management Companies. Today Pebb owns, operates and develops a diversified portfolio of commercial properties throughout the nation. They are a family owned business that has operated out of South Florida for over 35 years.

With signature tenant The South Florida Business Journal relocating to Miami, the entire second floor, totaling 10,642 square feet will be available in September. This creates an unique opportunity for building top signage with a daily traffic count of over 190,000 cars on I-95. We also have great spaces at 1,644 or 2,181 square feet.

The building is within walking distance of over a dozen restaurants, a gym, two urgent care centers, an Office Depot and a movie theater. Wells Fargo has a branch on the ground floor. The common areas were beautifully renovated in 2014. It is a building you need to see to appreciate.

That is why we are holding a broker lunch on July 30 at noon. Watch your email for trivia questions to be entered into our cash drawings for $750 in prizes. The event is invitation only for licensed real estate brokers active in the Cypress Creek market. If we somehow missed you and you’d like to attend, please call Brenner Real Estate Group at 954-596-5555 and ask for Bea. We look forward to seeing you and hope we can put your client’s name on our building. Read more

West Palm Office Building Goes On Market For $16.5M

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CBRE, Inc. has been hired to sell the Sabadell United Bank Building, a 12-story, 113,567 square foot asset in West Palm Beach, along with its five-level structured parking garage.

The asking price is $16.5 million, or $145 per square foot.

Built in 1980, the building is 86.9 percent occupied. The occupancy of the building is expected to decrease to 80 percent with the pending relocation of Rosenthal & Levy. Outside of Rosenthal & Levy, 19.4% of leases are expiring on a PSF basis through 2014.

PEBB Enterprises of Boca Raton purchased the Sabadell United Bank Building, located at 1645 Palm Beach Lakes Blvd., and the Horizons Building, located at 1401 Forum Way, in November 2011.

The combined purchase price was $14,250,000 for the two buildings.

Since then, the property has been significantly repositioned with over $700,000 in common area and building system improvements.

 

Source: CityBiz