Jones Lang LaSalle
Equity Office Enters South Florida with $29.5M Acquisition
by Alper Ozkan
Equity Office Properties Trust (NYSE:EOP), the big office REIT headquartered in Chicago, entered the South Florida market with its purchase of 1200 Corporate Place in Boca Raton for $29.5 million from 1200 Corporate Fee, LLC, an affiliate of New York-based Broadway Real Estate Partners, LLC.
Located at the intersection of Glades Road and Federal Highway in Boca Raton, the 128,959-square-foot, four-story suburban office building was built in 1984 in the West Palm Beach submarket and was 94.3% occupied at the time of sale. Major tenants include Smith Barney Citigroup, Blank Rome LLP, JP Morgan Trust Company, Sterling Financial, Raymond James & Associates, and Pan American Bank.
Christian Lee of CB Richard Ellis marketed the property on behalf of seller Broadway Partners, a private, New York-based real estate investment firm founded in 1999 by former Fortress Investment Group exec Scott Lawlor. Equity Office has retained Jones Lang LaSalle for the property’s leasing and management.
Equity Office Enters South Florida with $29.5M Acquisition
by Alper Ozkan
Equity Office Properties Trust (NYSE:EOP), the big office REIT headquartered in Chicago, entered the South Florida market with its purchase of 1200 Corporate Place in Boca Raton for $29.5 million from 1200 Corporate Fee, LLC, an affiliate of New York-based Broadway Real Estate Partners, LLC.
Located at the intersection of Glades Road and Federal Highway in Boca Raton, the 128,959-square-foot, four-story suburban office building was built in 1984 in the West Palm Beach submarket and was 94.3% occupied at the time of sale. Major tenants include Smith Barney Citigroup, Blank Rome LLP, JP Morgan Trust Company, Sterling Financial, Raymond James & Associates, and Pan American Bank.
Christian Lee of CB Richard Ellis marketed the property on behalf of seller Broadway Partners, a private, New York-based real estate investment firm founded in 1999 by former Fortress Investment Group exec Scott Lawlor. Equity Office has retained Jones Lang LaSalle for the property’s leasing and management.
posted by Jones Lang LaSalle NJ News Blog at 4:26 PM
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