CushWake Arranges $18M Sale of Boca Raton Office Park
Cushman & Wakefield has arranged the $18 million sale of Del Mar Office Park, a two-building office property totaling 100,243 square feet in Boca Raton.
Located at 7301 and 7301A W. Palmetto Park Road, the medical and professional office buildings are currently 67% leased. The property offers tenants a range of nearby amenities, including numerous hotels, dining and entertainment options as well as the Town Center Mall, Boca Center and Mizner Park.
Scott O’Donnell, Mike Ciadella, Dominic Montazemi, Greg Miller and Miguel Alcivar of Cushman & Wakefield represented the seller, RIMAR Properties at Del Mar LLC, in the transaction. Jason Hochman and Ron Granite of Cushman & Wakefield along with John Davis of JLL Capital Markets secured acquisition financing through BankUnited on behalf of the buyer, ASP/IP Del Mar LLC, which included funding for major renovations and future leasing costs.