Boca Mixed-Use Asset Trades

Jul 27, 2014 No Comments by

CBRE arranged the sale of Monterey South, a premier mixed-use office/retail asset located at 5455 N. Federal Highway in Boca Raton.

The two-story building with 28,698 square feet of rentable space was purchased from Portsmith Monterey, LLC, by Royale Sands I, LLC, for $3.2 million.

“With the region leaning ever more intently toward a promising recovery, this property offered investors the opportunity to own a well-located modern, efficient and affordable space with a low loss factor and very low expense load,” said First Vice President Dominic Montazemi of CBRE’s Investment Properties Group.

Monterey South was 65% occupied at purchase.

CBRE’s Scott O’Donnell, Miguel Alcivar, and Jason Hochman collaborated with Montazemi as exclusive representatives for Monterey South.

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Broward County Retail, Industry News, NA, Office, Palm Beach County Office, Retail
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