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IP Capital Partners Acquires Office Property In Boca Raton For $77.3M

2600, 2650 & 2700 North Military Trail
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This Office property located in FL was sold for $77,300,000 over 2 years ago. The brokers of the deal were Jose Lobon and Christian "Chris" Lee

The three office properties located at 2600, 2650, and 2700 North Military Trail in Boca Raton have been sold in a recent transaction. The sale was facilitated by CBRE brokers Christian Lee and José Lobón. The buyer, IP Capital Partners, was represented by Josh Procacci and Jason Isaacson, along with Edge Principal Advisors. On the other side of the deal, the seller was Bridge Investment Group and Ascentris.

Summary of transaction details

  • Property Type: Office
  • Sale Price: $77,300,000
  • Square Footage: 243,000
  • Price Per Square Foot: $318
  • Date: 10/07/2021
  • Market: Boca Raton

Josh Procacci and Jason Isaacson, representing IP Capital Partners, were part of the buying team. CBRE brokers Christian Lee and José Lobón facilitated the transaction on behalf of the buyer. The sellers, Bridge Investment Group and Ascentris, successfully closed the deal. The three office properties located at 2600, 2650, and 2700 North Military Trail in Boca Raton offer a significant asset in the office market.

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Deals
  • Location
    2600 North Military Trail, Boca Raton, FL 33431, USA2600 North Military Trail, Boca Raton, FL 33431, USA
  • Sale Price
    $77,300,000$77,300,000
    $318 PPSF$318 PPSF
  • Area
    243,000 SF243,000 SF
  • Asset Type
    OfficeOffice
  • Parties
    2 Brokers, 1 Agency2 Brokers, 1 Agency

Agents

Jose Lobon

Jose Lobon

Deals27
Financed$1.9B

Christian "Chris" Lee

Christian "Chris" Lee

Deals23
Financed$1.5B

Agency

CBRE

CBRE

Agency
Deals4231
Volume$184.3B

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Deal Summary

SALE IMAGE: Christian Lee, Josh Procacci, José Lobón & Jason Isaacson DATE: 10/07/2021 ADDRESS: 2600, 2650 & 2700 North Military Trail MARKET: Boca Raton ASSET TYPE: Office BUYER: IP Capital Partners - Josh Procacci & Jason Isaacson; Edge Principal Advisors SELLER: Bridge Investment Group & Ascentris BROKERS: Christian Lee & José Lobón - CBRE SALE PRICE: $77,300,000 SF: 243,000 ~ PPSF: $318

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2600, 2650 & 2700 North Military Trail

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