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| HSBC Plaza, 19120 South State Road 7, Boca Raton, FL |
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| Douglas K. Mandel |
BOCA RATON, FL, Feb. 11, 2014 – Marcus & Millichap, the
nation’s largest real estate investment services firm, has arranged the sale of
HSBC Plaza, a 46,000-square-foot retail shopping center with a
freestanding CVS/pharmacy and an HSBC Bank branch outparcel in Boca Raton, Fla.
The $19 million sales price equates to $415 per square foot.
Douglas
K. Mandel, a first vice president investments, and C. Todd Everett, SIOR,
a senior associate, both in the firm’s Fort Lauderdale office, represented the
seller, the property’s developer. Mandel and Everett also advised the buyer.
“HSBC
Plaza is a high-quality asset with a diversified tenant base and strong
in-place cash flow in a prime west Boca Raton location that is supported by
strong demographics,” says Mandel.
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| C. Todd Everett |
The
property is located at 19120 South State Road 7 on the southeast corner of
State Road 7—U.S. Highway 441—and Yamato Road near the Florida Turnpike and
Interstate 95 in Boca Raton, Fla.
The location is within proximity of an upscale
super-regional shopping center, Boca Town Center Mall and an upscale lifestyle
center, Mizner Park.
At the
time of the sale HSBC Plaza was 95 percent leased to a variety of local,
regional and national tenants including Med Express and Dunkin Donuts.
For a complete
copy of the company’s new release, please contact:
Gina Relva
Public Relations Manager
(925) 953-1716
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