DRA Advisors Acquires Office Building In Boca Raton For $320.2M

The former IBM research center located at 5000 T-Rex Avenue in Boca Raton has been sold in a recent transaction. The office complex, which holds historical significance as the birthplace of the first personal computer, has attracted attention from buyers and sellers alike.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $320,200,000
• Address: 5000 T-Rex Avenue, Boca Raton
• Market: Boca Raton
• Square Footage: 1,700,000
• Price per Square Foot: $188

The buyer in this transaction is DRA Advisors, represented by David Luski. On the other hand, the seller is the CP Group. With a sale price of $320,200,000, this deal marks a significant investment in the Boca Raton office market. The property's size of 1,700,000 square feet and a price per square foot of $188 highlight the value and potential of this office complex. It is worth noting that this property holds historical significance as it was the former home of IBM's research center, where the first personal computer was developed.