Boca Raton Office Complex Turnover Completed in 8 Months
HFF inks the $59.75 million sale of the Peninsula Executive Center in Boca Raton.
June 20, 2017 at 01:00 PM
8 minute read
When the Peninsula Executive Center hit the Boca Raton market, half a dozen buyers cast their offers.
The 187,784-square-foot, Class A office property appealed to both institutional and private investors with its long history and a steady income stream, said HFF senior managing director Chris Drew, who marketed the property.
“Most office deals tend to have a fluctuation in occupancy,” Drew said. “The occupancy of this asset hasn't dipped below 90 percent in the last eight to 10 years, which is really impressive for any office deal, particularly suburban office.”
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