Golden East Investors Acquires One Boca Place Office In Boca Raton For $78.88 Million
2255 West Glades Road
$78,880,000
$127/SF
Building Size
617,920 SF
Asset Type
Office
Closing
Oct 22, 2026
About this deal
AI
One Boca Place is an office property located at 2255 West Glades Road in Boca Raton, FL, encompassing 7.75 acres. The property was sold for $78.88 million and consists of 617,920 square feet of office space, with a price per square foot of $128.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $78,880,000
- Buyer: Golden East Investors
- Seller: Christopher Merrill - Harrison Street Asset Management; Angelo Bianco - CP Group
- Lender: City National Bank of Florida
- Square Footage: 617,920
- Price Per Square Foot: $128
Christopher Merrill and Angelo Bianco were involved in the transaction, representing their respective firms in the sale. The property's market value has shown only a slight increase since its previous sale of $76.35 million in 2014, indicating the current market trends for suburban office space in comparison to more urban South Florida locations.
On the Map
$78,880,000
$127/SF
Office
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Players
Monterey 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
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93