July 18, 2014
200 East Boca Raton Commercial Condominium Sold
BlueGate Partners, LLC (“BlueGate”) represented 200 East Partners, LLC in the sale of its fee simple interest in 200 East Boca Raton Commercial Condominium (the “Property”) in Boca Raton, FL to East Palmetto Park Road, LLC for $3,225,000. The Property is located at 200 East Palmetto Park Road, Boca Raton, FL and totals three commercial suites totaling 14,818 sf and at time of sale was 75.8 percent occupied.
The Property is the ground floor commercial component of the 200 East Boca Raton condominium that was built in 2009 and consists of 115 residential condominium units and approximately 27,000 sf of commercial condominium space on the ground floor.
“200 East Boca Raton benefits from an infill location with great access and proximity to area’s major employment and entertainment centers while being at the center of new development in Boca Raton. It is well-positioned to build upon the commercial success in and around Mizner Park.” said BlueGate’s Managing Partner Mark DeLillo.
200 East Palmetto Park Road, LLC is a private group of Boca Raton based investors that own a number of retail and office assets in Boca Raton and greater Palm Beach County.
BlueGate is a boutique real estate investment banking firm with offices in New York and Palm Beach, and offers services in the areas of investment sales, portfolio and property financing, and debt and equity capital raising for real estate projects.