Joseph Sitt Of Thor Equities Acquires Office Complex In Boca Raton For $62 Million

The property asset involved in this transaction is located at 5355 Town Center Road, Boca Raton, FL. It is an office type asset, encompassing a total square footage of 267,812. The sale was finalized for a price of $62,000,000, reflecting a price per square foot of $232. The asset is approximately 90% leased and features a parking garage with a substantial area of 114,599 square feet.

Summary of transation details:

• Property Type: Office
• Transaction Amount: $62,000,000
• Buyer: Joseph Sitt - Thor Equities
• Seller: Angelo Bianco - CP Group
• Square Footage: 267,812
• Price per Square Foot: $232
• Leasing Status: Approximately 90% leased
• Parking Garage Area: 114,599 square feet

The key individuals involved in this deal are Joseph Sitt, representing Thor Equities, and Angelo Bianco, representing CP Group. This transaction signifies Thor Equities’ strategic move to diversify its portfolio beyond South Florida’s retail sector, while CP Group is exiting the remaining part of the Town Center complex.