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Renaissance Properties Completes $51M Purchase of Boca Raton Class A Office
Renaissance Properties has completed its $51-million acquisition of South City Plaza, a four-story Class A office at 1515 South Federal Highway in Boca Raton, FL.
Maria Gomez of Powerful Real Estate, LLC, represented the buyer. Mark Rubin, Bastian Laggerbauer and Jake Stauber of Colliers represented the seller, Boca-Raton, FL-based Penn-Florida Companies.
“The interest from buyers seeking high-quality office investment properties in South FL remains strong and steady,” said Rubin. “This transaction is a testament to the strength and fundamentals of the Boca Raton office market.”
The 179,837 square-foot building is situated on a premier 3.66-acre parcel near downtown core of Boca Raton. The property offers monument signage opportunities that are visible along Federal Highway providing exposure to over 33,000 travelers per day.
South City Plaza is between two of South Florida’s most traveled thoroughfares, the Federal Highway and Dixie Highway and less than five minutes from Penn-Florida Companies’ $1.2 billion-dollar redevelopment project, Via Mizner.
- ◦Sale/Acquisition
