The Atrium at Damaged Sound. Picture courtesy of CommercialEdge information
Meyers Accesso has acquired The Atrium at Damaged Sound, an virtually 100,000-square-foot, three-story Class A workplace property at 6111 Damaged Sound Parkway N.W., in Boca Raton, Fla.
The property is inside The Park at Damaged Sound, a 700-acre mixed-use growth that provides walkable proximity to quite a few retail developments, residential communities and facilities.
The deal’s greenback worth was not disclosed. CommercialEdge information signifies that the earlier proprietor was Alchemy-ABR Funding Companions, of New York.
The Atrium at Damaged Sound is sited on 10.4 acres and not too long ago underwent capital enhancements that included renovations to its foyer, convention rooms, widespread areas, home windows and turbines. Meyers Accesso plans on implementing additional property enhancements.
Accomplished in 1986, the workplace asset is 74 p.c occupied. Main tenants embody regulation agency Sachs Sax Caplan PL, managed care service supplier Genex Companies LLC, workplace know-how supplier TGI Workplace Automation LLC and retailer Marshalls of MA Inc.
The property gives handy entry to Interstate 95 in addition to views of The Outdated Course golf course at Damaged Sound Membership, which was dwelling to the PGA Tour Champions season opener for 15 straight years.
Meyers Accesso is a comparatively “new” firm, having been fashioned in 2022 by the merger of Meyers Group and Accesso. Beneath Ariel Bentata and Stuart Meyers, its co-chairmen and co-CEOs, the corporate focuses on mixed-use and residential properties.
Holding regular
Rents for each the Class A and Class B workplace house in South Florida have hit a plateau and “the emptiness fee has remained regular for the previous couple of quarters regardless of absorption of latest house displaying a trending decline,” in line with a third-quarter report from Lee & Associates.
In a market the place tenant retention is the precedence for a lot of landlords, one of many greatest offers within the third quarter was Greenberg Traurig LLP’s renewal for his or her 128,450-square-foot house on the Wells Fargo Middle in downtown Miami, the place they’ve been since 2010.
This previous August, versatile workplace supplier Quest Workspaces leased 20,844 sq. ft of house at 1200 Company Place in Boca Raton, Fla. The total-floor lease primarily doubled Quest’s presence within the constructing. The owner is Keystone, of Conshohocken, Pa.
