A South Florida real estate investment management group has bought the Bank of America Tower in downtown Boca Raton in an off-market transaction for $44.6 million from Black Creek Group, a real estate investment management firm based in Denver, Colorado.
Grover Corlew, headquartered in Boca Raton, bought the 109,497-square-foot tower, located at 150 East Palmetto Park Road, in the heart of the city's central business district. The property is near the Boca Raton Resort & Club and Royal Palm Place, and is within walking distance to Mizner Park and the Brightline Station, which is expected to be completed soon.
Dominic Montazemi, Scott O'Donnell and Mike Davis, of the Cushman & Wakefield Capital Markets team brokered the transaction. Jason Hochman and Ron Granite of the Cushman & Wakefield team facilitated financing through Wells Fargo Bank.
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Melea VanOstrand
Melea VanOstrand oversees the Daily Business Review as ALM's Florida Bureau Chief. Email Melea at [email protected] or follow her on her Twitter or Facebook pages.
