Keystone Property Collection has acquired Twelve hundred Corporate Place, some sort of 137,021 s/f, four-story office asset throughout Boca Raton, Fla., for $15.25 mil from Equity Place of work.
"Boca Raton is South Florida's the queen's jewel of business office locations, offering unheard of access to prime exec neighborhoods and full price centers," reported Bill Glazer, president of Keystone Proberty Group.
"The property gifts tremendous potential to always be successfully repositioned through tactical capital enhancements which will unlock additional importance."
Built in 1984, the property incorporates a reflective glass outside, four-story atrium lobby with marble flooring and inner surface fountains, in addition to facilities such as an on-site deli along with banking.
This acquisition persists Keystone's strategy of acquiring undercapitalized resources in prime places and repositioning these to meet market demand from customers.
Earlier this year, Keystone announced buying of 15 Noblemen Grant Drive, the 53,920 s/f suburban company asset in Bala Cynwyd, Philadelphia. which the company offers to transform into a Training B asset.
Orlando Lea, vice chairman, of Clickbank Richard Ellis's Capital Areas Group in New mexico, arranged the 1000 Corporate Place sale with assistance from colleagues Charles Foschini, Christopher Apone, Scott O'Donnell, Jeffrey Kelly, along with Dominic Montazemi.
COPYRIGHT 2011 Hagedorn Newsletter
COPYRIGHT 2011 Gale, Cengage Understanding
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