PALM BEACH, FL—CBRE has been charged with turning around a distressed office project in Boca Raton, FL. The firm just sealed the exclusive leasing contract for Financial Centre and Pine Tree Plaza, five office buildings totaling 166,968 square feet in Deerfield Beach, FL.
CBRE will work with the owner, Scott Properties, to market 45,000 square feet of availability in the buildings. The owner previously provided its own leasing services.
The 300 Lock Road building has 25,000 square feet vacant after a recent IRS departure and is only 17% leased. The 1701 & 1761 Hillsboro Boulevard buildings are 88% leased and the flex buildings are 84% leased.
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