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New Boston Fund Takes Atlan Tech Tower for $63M

FORT LAUDERDALE, FL-New Boston Fund acquires the 413,000-sf Atlan Tech Tower, its first office acquisition in the Southeast.

By Natalie Keith | Updated on January 02, 2008

FORT LAUDERDALE, FL-Boston-based New Boston Fund Inc. has acquired the 413,000-sf, 11-story Atlan Tech Tower at 6451 North Federal Highway for $63 million. The acquisition included 2.5 acres of developable land.

The property, renovated in 2001, was 88% occupied at the time of the sale. Major tenants include AT&T, Whole Foods, Matria Health Care and Wachovia.

New Boston Fund senior vice president and regional director the Southeast Pryse Elam tells GlobeSt.com that New Boston plans to develop more space on the property, although specific details have not yet been determined. “Not only was this an opportunity to acquire a significant asset, it was also an opportunity to develop new space,” Elam says. “The new space will be integrated around the existing building.”

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