Thursday, January 21, 2016

ICM Realty Group Acquires Cypress Executive Center in Boca Raton, FL

Bruce Timm
BOCA RATON, FL, Jan. 21, 2016 -- ICM Realty Group, the international real estate investment and management firm, announced today that it has purchased the 93,500 square foot, Class A Atrium at Broken Sound office building, located at 6111Broken Sound Parkway.

The purchase represents ICM’s fourth investment in Florida in the past 24 months and was made on behalf of ICM’s (VII) U.S. Core Plus Realty Trust, a fully discretionary private equity fund focused on acquiring and developing office, retail and medical office properties.

Located within the 700-acre Park at Broken Sound, the Atrium maintains a prestigious Boca Raton address with immediate proximity to executive housing, hotels, shopping, dining and entertainment.

Situated at the Park’s northern entrance, at the traffic light-controlled intersection of Clint Moore Road and Broken Sound Parkway, the Atrium has prominent visibility, provides convenient access to I-95 and the Florida Turnpike and is minutes from the Boca Raton Executive Airport.

In addition to its hallmark 3-story atrium, private balconies, covered reserved parking and tranquil park setting (complete with gazebo / picnic area) the building overlooks the 13th hole of the Broken Sound Golf Club providing its occupants with stunning views of the course.

Andrew Webb
”This acquisition helps to further grow ICM’s exposure to Southeast Florida, expanding its portfolio in a market upon which we will be placing considerable emphasis in 2016,” said Bruce Timm, ICM’s CEO. “The quality of the building, its excellent location and diverse tenant profile make this asset a compelling addition to our fund.”

As part of the investment’s business plan, ICM intends to complete additional building improvements and pursue development of the site’s additional 2 acres of land for a complementary use.

“The Atrium was an extremely appealing investment to us due to its quality and superb location within the market,” said ICM Managing Director Andrew Webb. ”One of ICM’s trademarks is our ability to provide tenants with immediate, positive changes resulting from our signature hands-on approach.

“We are excited to have found an asset that will allow us to create value through improving operations and occupancy. ”

In order to deliver the best service possible, ICM has partnered with Grover Corlew for the property management and has enlisted the services of John Criddle with Cushman & Wakefield for leasing the remaining vacant space.

For a complete copy of the company’s news release, please contact:

Andrew Webb
Managing Director, USA
Main: (651) 398-2662

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