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Institutional Property Advisors Helps Seller with $10M Release of Boca Raton Office
Institutional Property Advisors, a division of Marcus & Millichap, has completed the $9.5-million sale of 1095 Broken Sound Parkway, a 46,593-square-foot Class A office building in the Park at Broken Sound office park in Boca Raton, FL.
Douglas Mandel, Tyler Kuhlman and Zachary Levine of Marcus & Millichap represented the seller.
“This asset is the newest Class A office building to be delivered in the 700-acre, dynamically evolving and highly desirable Park at Broken Sound live-work-play office park,” said Mandel.
“The Palm Beach County office market observed a strong rebound last year, as evidenced by the metro’s office-using employers’ recovery of all pandemic job losses by the second quarter,” added Kuhlman. “Currently, employers are on track to end the year 8,000 positions above pre-health crisis counts.”
The three-story concrete office building was constructed in 2008 and has single-deck structured parking and ample underneath parking with multiple entrances.
- ◦Sale/Acquisition
