Grover Corlew Purchases Boca Raton Property At 150 E Palmetto Park Rd With Dominic Montazemi As Seller's Rep

The Bank of America Tower, located at 150 E Palmetto Park Rd, Boca Raton, Florida, has been purchased for $44.6 million. This eight-story Class A energy star certified building encompasses 109,497 square feet and is positioned at the intersection of East Palmetto Park Road and SE Mizner Boulevard. The property is situated in downtown Boca Raton, which features upscale restaurants, entertainment, and shopping options, making it an attractive location for companies seeking modern office spaces. The building, originally constructed in 1970, offers amenities such as on-site management, a building engineer, WiFi access in the lobby, a conferencing facility, and free parking with roving security.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $44.6 million
• Square Footage: 109,497
• Address: 150 E Palmetto Park Rd, Boca Raton, Florida
• Market: Boca Raton
• Seller's Representative: Dominic Montazemi - Cushman & Wakefield
• Buyer: Grover Corlew
• Tenants: Bank of America, Charles Schwab, Waypoint Residential
• Proximity: Less than a mile from Boca Raton Resort & Club
• Nearby Attractions: Royal Palm Place, Mizner Park, Brightline Station

The transaction was facilitated by the Cushman & Wakefield Capital Markets team, which was led by Dominic Montazemi along with Scott O’Donnell and Mike Davis. Financing was arranged through Wells Fargo Bank by Jason Hochman and Ron Granite. Grover Corlew plans to reinvest in the property to create a top-notch office experience and leverage the strengths of downtown Boca Raton to attract a diverse range of companies.