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| 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.
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| 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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