facebook
Traded Co logo
Submit a Deal

Tricera Capital Acquires Office Building In Boca Raton For $20M

1675 North Military Trail
PointingArrow
ShareContact

This Office property located in FL was sold for $20,000,000 over 2 years ago. The brokers of the deal were Tyler Kuhlman, Douglas (Doug) Mandel, and Jonathan More

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.

View Related

Deals
  • Location
    1675 N Military Trl, Boca Raton, FL, USA1675 N Military Trl, Boca Raton, FL, USA
  • Sale Price
    $20,000,000$20,000,000
    $285 PPSF$285 PPSF
  • Area
    70,000 SF70,000 SF
  • Asset Type
    OfficeOffice
  • Parties
    3 Brokers, 2 Agencies3 Brokers, 2 Agencies

Agents

Tyler Kuhlman

Tyler Kuhlman

Deals31
Sold$514.4M

Jonathan More

Jonathan More

Deals8
Financed$171.7M

Agencies

Marcus & Millichap

Marcus & Millichap

Agency
Deals7003
Volume$66B

Mission Capital

Mission Capital

Agency
Deals12
Volume$601.8M

Social

Deal Summary

SALE 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.

Comparables


We could not find what you were looking for, try a different filter

Contact

Broker's profile image

1675 North Military Trail

  • Social

  • Comparables

  • Contact

  • Share


  • Login to Suggest Edits