June 21, 2018 Comments Off on ADT Boca Raton HQ Trades for $42M Views: 3058 Florida, National News, Southeast

ADT Boca Raton HQ Trades for $42M

Boca Raton, FL-based PEBB Enterprises and Chicago-based Tortoise Properties, LLC acquired ADT Inc.’s global headquarters from Philadelphia-based RAIT Financial Trust for $42.05 million. The 171,489-square-foot building is located at 1501 Yamato Rd. in Boca Raton.

Developed in 1983 on a roughly 10-acre site in southeast Palm Beach County, the Class A office building features a skylit atrium, water feature, porte cochère, golf course views and a structured parking garage. Renovations were completed in 2011, before ADT took occupancy.

Cushman & Wakefield’s Scott O’Donnell, Dominic Montazemi, Mike Davis, Greg Miller, Rick Brugge and Michael Lerner represented the seller. Cushman & Wakefield’s Jason Hochman assisted the buying JV in securing a $28.6 million, non-recourse acquisition loan with a low interest rate and flexible prepayment terms.

Connect With PEBB Enterprises

Connect With RAIT Financial Trust

Connect With Cushman & Wakefield’s O’Donnell

Get CRE News in 150 words

For comments, questions or concerns, please contact Dennis Kaiser

Tags: ,

Comments are closed.