Institutional Property Advisors (IPA), a division of Marcus & Millichap dedicated to serving the company’s institutional clients, announced the sale of Deerfield Financial Centre, a two-building, approximately 90,000-square-foot office portfolio in Deerfield Beach.
The property sold all cash for $11,525,000.
Douglas Mandel, IPA executive managing director investments, and Zach Levine of Marcus & Millichap represented the seller, Crown Diversified Industries Corp., and procured the buyer, Rusty Towers LLC, an affiliate of Boca Raton-based Bark Management.
The property was sold on behalf of the original developers and had been held by the family for over 40 years.
Located at the corner of West Hillsboro Boulevard and Military Trail, the buildings are within walking distance of the Deerfield Beach train station. The Deer Creek Golf Club is nearby, and both Interstate 95 and the Florida Turnpike are easily accessible.
Built in 1984 and 1985 on 5.5 acres, the Deerfield Financial Centre comprises 60 office suites ranging in size from 120 square feet to over 4,750 square feet. The property offers 366 parking spaces and features two four-lane drive-thrus equipped with pneumatic tube systems.
