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ASP/IP Del Mar LLC Acquires Office Building In Boca Raton For $18M

7301 Palmetto Park Road
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This Office property located in FL was sold for $18,000,000 almost 3 years ago. The brokers of the deal were Michael (Mike) Ciadella, Scott O'Donnell, Dominic Montazemi, Miguel Alcivar, and Greg Miller

The office property located at 7301 Palmetto Park Road in Boca Raton has been sold in a transaction valued at $18,000,000. The property spans across 8.2 acres and offers a total of 100,423 square feet of space. With a price per square foot of $179, this sale reflects a significant investment in the vibrant Boca Raton market.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $18,000,000
  • Square Footage: 100,423
  • Price per Square Foot: $179
  • Acres: 8.2

The buyer, ASP/IP Del Mar LLC, acquired the property from the seller, Rimar Properties. Facilitating this transaction were the brokers Scott O'Donnell, Mike Ciadella, Dominic Montazemi, Greg Miller, and Miguel Alcivar from Cushman & Wakefield. Their expertise and negotiation skills played a crucial role in the successful completion of this deal.

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Deals
  • Location
    7301 West Palmetto Park Road, Boca Raton, FL, USA7301 West Palmetto Park Road, Boca Raton, FL, USA
  • Sale Price
    $18,000,000$18,000,000
    $179 PPSF$179 PPSF
  • Area
    100,423 SF100,423 SF
  • Asset Type
    OfficeOffice
  • Parties
    5 Brokers, 2 Agencies5 Brokers, 2 Agencies

Agents

Greg Miller

Greg Miller

Deals15
Sold$194M

Agencies

Cushman & Wakefield

Cushman & Wakefield

Agency
Deals4188
Volume$167B

The Multifamily Group

The Multifamily Group

Agency
Deals64
Volume$194M

Deal Summary

SALE IMAGE: Mike Ciadella, Mike Ciadella, Greg Miller, Miguel Alcivar & Dominic Montazemi DATE: 06/04/2021 ADDRESS: 7301 Palmetto Park Road MARKET: Boca Raton ASSET TYPE: Office BUYER: ASP/IP Del Mar LLC SELLER: Rimar Properties BROKERS: Scott O'Donnell, Mike Ciadella, Dominic Montazemi, Greg Miller & Miguel Alcivar - Cushman & Wakefield SALE PRICE: $18,000,000 SF: 100,423 ~ PPSF: $179 ACRES: 8.2 ~ PPA: $2,195,122

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7301 Palmetto Park Road

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