SOLD
Tricera Capital Acquires Office Building In Boca Raton For $20M
1675 North Military Trail
Office
70,000 SF
70,000 SF
Summary
Sale
FLORIDA
Office
70,000 sqft
An office property located at 1675 N Military Trl in Boca Raton has been sold for $20,000,000. The transaction took place on 11/23/2021. The property spans 70,000 square feet, resulting in a price per square foot of $286. The buyer in this deal was Scott Sherman of Tricera Capital, while the seller was Randy Rossini of 5295 Center Realty Associates. The brokers involved in the transaction were Tyler S. Kuhlman, Douglas K. Mandel, and Jonathan More of Marcus & Millichap.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $20,000,000
- Address: 1675 N Military Trl
- Market: Boca Raton
In addition to the sale, Tricera Capital secured nearly $20M in financing for this property, with Jonathan More providing assistance. According to Kuhlman, the lack of new construction in the area has driven rental rates and occupancy, leading to a strong market in Florida.
Read LessPlayers
All
5
Agents
3
Agencies
2
Details
SOLD
IMAGE: Jonathan More, Scott Sherman, Douglas K. Mandel & Tyler S. Kuhlman
DATE: 11/23/2021
ADDRESS: 1675 N Military Trl
MARKET: Boca Raton
ASSET TYPE: Office
BUYER: Scott Sherman - Tricera Capital
SELLER: Randy Rossini - 5295 Center Realty Associates
BROKERS: Tyler S. Kuhlman (@TylerKuhlman_), Douglas K. Mandel, Jonathan More - Marcus & Millichap
SALE PRICE: $20,000,000
SF: 70,000 ~ PPSF: $286
NOTE: “Lack of new construction has driven rental rates and occupancy as Florida continues to see strength in fundamentals predicated on population and financial migration,” stated Kuhlman. Jonathan Moore assisted by securing nearly $20M in financing for Tricera Capital.View on map
Loading...
Address1675 North Military Trail
Comparables
Reset filters to show results.
Contact
Get in touch with the broker you want