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Bank of America Building Goes for $2M

FORT LAUDERDALE, FL-The Hobe Sound building, which is close to posh Jupiter Island, is in an outparcel of the Inland Crossing Shopping Center.

By Hortense Leon | Updated on May 28, 2010

FORT LAUDERDALE-A small, suburban, Bank of America building in Hobe Sound, FL, sold for $1.9 Million in cash, or $127 per square foot. The buyer was DiVosta Investments of Palm Beach Gardens. The building, located in an outparcel to the Inland Crossing Shopping Center, was built in 1972 and is 100% occupied.

“DiVosta is a strong buyer and long-term investor which pays cash for most of its acquisitions,” says Bill Strauss, vice president and retail specialist with the Private Client Group at CB Richard Ellis’ Investments Properties Divisions in Boca Raton, who represented the seller, Bridge Road, LLC of Evanston, IL.

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