The property's location and the level of unit and community finishes attracted BF Group, according to CB Richard Ellis. "The US 1 location in Boynton Beach coupled with the mix of larger unit types, offered the purchaser a strong opportunity for condominium conversion," says Jay H. Massirman, a broker involved in the sale.

Massirman, executive vice president of CB Richard Ellis, Denny St. Romain, senior director of LJ Melody & Co., and Charles Crapse, senior associate of CB Richard Ellis represented the Cornerstone Group.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.