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Florida & Gulf Coast  + South Florida  + Office  | 

CBRE Brokers $100M Sale of Boca Raton Office Tower

CBRE has arranged the $99.5 million sale of One Town Center, a 191,294-square-foot office tower in the Boca-Glades micro-market of Boca Raton.

One Town Center is a 10-story building with an adjacent 435-space parking garage and 274 surface parking spaces. The property is located in the Midtown Boca Raton corridor, close to upscale executive housing and 1.2 miles from I-95. The building was developed by Tom Crocker in 1991 as the worldwide headquarters for WR Grace as part of their relocation from New York. WR Grace vacated in 2001 and the space was reabsorbed by Tyco, a national security systems company. The property was sold to Crocker Partners in 2012, who brought the building from 26% to 94% occupancy.

Christian Lee, José Lobón, Amy Julian, Andrew Chilgren and Royce Rose of CBRE represented the seller in the transaction, CP Group, formerly Crocker Partners. The buyer was Prime US REIT.


Inside The Story

CBRE’s Lee

About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

  • ◦Sale/Acquisition