Pebb Enterprises And Butters Construction Acquire Boca Raton Office For $26.15M From Berta Management
2000 Glades Road
$26,150,000
$438/SF
Building Size
59,667 SF
Asset Type
Office
Closing
Apr 9, 2026
About this deal
AI
The property asset involved in this transaction is situated at 2000 Glades Road in Boca Raton, with a total square footage of 59,667. The asset type is classified as office space, and it was sold for $26,150,000, equating to a price per square foot of approximately $438.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $26,150,000
- Address: 2000 Glades Road
- Market: Boca Raton
- Square Footage: 59,667
- Price Per Square Foot: $438
- Buyer: Pebb Enterprises and Butters Construction & Development
- Seller: Berta Management of Florida
- Brokers: Douglas K. Mandel, Zach Levine & Cody Hershey - Marcus & Millichap
Key individuals involved in this transaction include Douglas K. Mandel, Zach Levine, and Cody Hershey, who represented the buyers in the deal through their affiliation with Marcus & Millichap. The transaction reflects a collaboration between Pebb Enterprises and Butters Construction & Development purchasing from Berta Management of Florida.
Players
Boca Raton Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.61%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93