HFF announces $24 million sale of Class A office building in Boca Raton, FL

900 Broken Sound Parkway, Boca Raton, FL

Hermen Rodriguez

MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $23.675 million sale of 900 Broken Sound Parkway, a 115,986-square-foot, Class A office building in Boca Raton, Florida.

The HFF team represented the seller, a partnership between Mainstreet Capital Partners and an investment fund managed by The Davis Companies, a Boston-based commercial real estate development and investment firm. 

After a robust marketing process, HFF also procured the buyer, which is a partnership between local investors and a national investment fund that has selected NAI Merin Hunter Codman to provide management and leasing services

The property is located at 900 Broken Sound Parkway within The Park at Broken Sound, a vibrant, 700-acre mixed-use commercial/residential park.

Tracey Goo

This location is adjacent to more than 1,000 newly-built luxury residential units and is in close proximity to numerous dining, retail, and lodging amenities, including Fresh Market and Lifetime Fitness and features 515 parking spaces. 

Ike Ojala

The office building also offers a hub of connectivity to the entire South Florida region with direct access to Interstate 95 and the Florida Turnpike and easy accessibility to Boca Raton Airport, Palm Beach International Airport and Fort Lauderdale International Airport.

Originally built in 1989, the five-story property was most recently renovated in 2015 and is 79.4% leased to tenants, including CSL Plasma and Geosyntec.

The demographics of the area immediately surrounding the property feature an average household income exceeding $117,000 and more than half of the population holds a bachelor’s degree or higher. 

The HFF investment advisory team representing the seller included senior managing director Hermen Rodriguez, senior director Ike Ojala and director Tracey Goo.

“The Boca Raton location, high-quality tenancy and upside through leasing attracted a wide variety of domestic and foreign bidders,” said Rodriguez.

Paul J. Kilgallon

“The ongoing transformation of The Park at Broken Sound into a true mixed-use live-work location has resulted in strong leasing activity in the market and 900 Broken Sound is well positioned to benefit from that,” added Ojala.

Mainstreet Capital Partners is a real estate investment and management firm specializing in office and industrial acquisitions.  

Established in 1999 by Paul J. Kilgallon, Mainstreet Capital Partners seeks to align itself with investment partners by sourcing investment opportunities in the southeastern and southwestern United States. 

For more information, please contact:

KRISTEN MURPHY

HFF Director, Public Relations

(617) 338-0990

krmurphy@hfflp.com

mainstreetcapital.com.

www.thedaviscompanies.com.