Meyers Accesso scooped up an office environment building in just the Park at Damaged Audio mixed-use growth in Boca Raton.
Alchemy-ABR Investment decision Companions sold the 3-story The Atrium at Damaged Seem at 6111 Northwest Damaged Sound Parkway for $25 million, according to data and actual estate databases Vizzda. The buyer took in excess of the seller’s existing $15.9 million financial debt on the house. BankUnited is the financial institution.
Accomplished in 1986, the 100,000-sq.-foot setting up is on 10 acres, according to Vizzda. New York-centered Alchemy-ABR bought the constructing in 2018 for $22.4 million, documents demonstrate.
The Atrium is 74 p.c occupied, CoStar Information documented.
Tenants consist of pc consultant iPower Technologies, regulation business Sachs Sax Caplan, Florida Pharmaceutical Goods and South Palm Seashore County Bar Association.
Meyers Accesso is a joint undertaking fashioned in 2022 among Aventura-centered Meyers Team and Hallandale Seashore-primarily based Accesso Companions. The joint enterprise focuses on industrial and household true estate. Meyers Accesso is led by Stuart Meyers and Ariel Bentata.
In August, the joint undertaking secured a $46.1 million development personal loan for a two-creating, 200-device apartment elaborate at 3300 Boutwell Highway in Lake Worth Seaside.
New York-primarily based Alchemy-ABR is a joint undertaking amongst Alchemy Homes and ABR Associates, in accordance to the firm’s web site. Founded in 2015, Alchemy-ABR is a genuine estate improvement, order and administration business.
In Oct, the company scored a Miami metropolis board’s approval for a planned 12-tale, 178-unit household creating at 18 Northwest 23rd Street in Wynwood. Alchemy-ABR had paid out $18 million for the development web page in 2022.
Alchemy-ABR is led by Joel Breitkopf, Brian Ray and Kenneth Horn.
The 700-acre Park at Broken Seem is made up of business, retail, leisure and household true estate. The combined-use project was originally formulated in the 1970s as the Arvida Park of Commerce with only office properties. The development was rebranded in 2015.
South Florida’s business office market place took a hit very last 12 months, with financial investment income dropping due to greater desire premiums and much less leases, as inflation strained tenants’ budgets.
A number of buildings did market in December, as buyers commonly hurry to shut offers right before calendar year-end. Tricera Funds, led by Ben Mandell, and its companions paid out $28.5 million for The Workplaces at Doral Sq. making at 8600 Northwest 36th Avenue in Doral. Also, homebuilder Lennar bought its headquarters constructing at 5505 Blue Lagoon Generate near Miami Intercontinental Airport for $68 million.
