Avison Young’s Florida Capital Markets Group has been exclusively retained to market and sell a 77,573-square-foot office and retail portfolio in Boca Raton.
The portfolio consists of a 45,173-square-foot Bank of America-anchored office building at 23123 State Road 7 and two retail centers, dubbed Hillsboro I and II, at 22653-22841 State Road 7.
Avison Young Principals David Duckworth, John K. Crotty, CCIM, Michael T. Fay, Mark Rubin, and Senior Associates Joshua Ladle and Brian De La Fe will negotiate and facilitate the disposition on behalf of affiliates of the seller, Zaragon, Inc., based in Chicago.
“Zaragon’s Boca Raton portfolio represents a prime opportunity to purchase two high-performing, fully occupied retail centers and an 85-percent-leased office property with prominent visibility on highly trafficked State Road 7 in affluent Boca Raton,” Duckworth said. “The assets are being offered collectively to provide an investor a diversified portfolio with upside potential and management synergies due to proximity, although the seller will consider individual offers.”
The portfolio listing comes on the heels of the Avison Young Florida Capital Markets Group completing the $7.5 million sale of The Atrium, a fully occupied 37,392-square-foot corporate office building in West Palm Beach to Zaragon within just a 45-day period.
The team was selected by Zaragon to market the Boca Raton assets based on the team’s collaborative approach of deploying both market and product type specific expert human capital to achieve market leading results.