June 16, 2017 Comments (0) Views: 318 Florida, National News, Southeast

Boca Raton Office Asset Sold for $60M

Peninsula Executive Center, a 187,784-square-foot, Class A office property in Boca Raton, FL traded hands. The $59.75-million transaction involved a $33.5-million acquisition loan by Boston-based C. Talanian Realty Co., which made its first major investment in South Florida.

HFF marketed the 5.7-acre property on behalf of the seller, CDR Glades LLC, and procured the buyer. Additionally, HFF secured the long-term, fixed-rate financing through Principal Real Estate Investors.

The 97% leased asset consists of two, four-story office buildings and a 742-space parking structure located at 2381 and 2385 Executive Center Dr. The central location in the heart of Boca Raton’s most coveted office submarket is adjacent to the Midtown Boca district.

HFF’s team included Chris Drew, Hermen Rodriguez, Ike Ojala, Brian Gaswirth and Matthew McCormack.

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