Crocker Partners Buys Boca Office Building For $76M

August 19th, 2014

One Boca Place, a 277,390 square foot Class A office complex in Boca Raton, changed hands in a $76.35 million transaction, according to a deed recorded Friday in Palm Beach County.

One Boca Place Inc. made a 70 percent premium on the sale after paying $44.73 million in 2001 for the property at 2255 W. Glades Road off Northwest Executive Center Drive. The seller secured about $32 million above what it paid to acquire the property.

A local investment group, CP Boca Place LLC, a Crocker Partners affiliate, purchased the office complex, including the 340,530-square-foot parking garage.

One Boca Place, also called Boca Raton Glades Road Center, is a premium office complex west of I-95.

Tenants range from federal clients, like the Florida Southern Probation Office, to financial services providers and law firms like Proskauer Rose.

Source:  DBR

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