CBRE has arranged the sale of four office and industrial properties in Palm Beach and Broward counties on behalf of entities controlled/owned by The Milhous Group. Three of the properties are located in the Park at Broken Sound in Boca Raton, FL, and a fourth is in Deerfield Beach. The properties are:
- 6000 Broken Sound Parkway, Boca Raton, FL, acquired by David Long and/or assigns for $13.9 million;
- 6100 Broken Sound Parkway, Boca Raton, FL, acquired by Liberty Equities (USA), Inc. for $8.6 million;
- 990 South Rogers Circle, Boca Raton, FL, acquired by David Kahn for $12.4 million; and
- 2150 SW 10th Street, Deerfield Beach, FL, acquired by Geneva Roth BEA, LLC for $3.9 million.
The CBRE team involved in the sale were Jeff Kelly, Executive Vice President; Christian Lee, Vice Chairman; and José Lobón, First Vice President.
“The owner of these properties had an aggressive timeline, as loans on all four properties were set to expire on May 31st, 2016. CBRE was able to secure four separate buyers and close on all of the properties on the expiration date of the loan,” said Mr. Kelly.
Added Mr. Lee, “Getting four buyers to close on four deals on the same day isn’t an easy order to fill – Jeff Kelly and José Lobón did a superb job.”
6000 Broken Sound Parkway is a 72,763-square-foot office property in the Park at Broken Sound. Built in 2001, it is currently 50% occupied. The owner-occupier buyer will use the balance of the available space as the corporate headquarters for Orange Theory.
6100 Broken Sound Parkway is a 66,100-square-foot office/flex building in the Park at Broken Sound. Built in 1999, it is currently 100% occupied.
990 South Rodgers Circle is a 123,005-square-foot workspace in the Park at Broken Sound. Built in 1987, it is currently 84% occupied.
2150 SW 10th Street is a two-building complex totaling 35,000 square feet with a 10,000-square-foot retail strip center and a 25,000-square-foot freestanding office/showroom/warehouse building on 3.1 acres in Deerfield Beach.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue).The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
