Grover Corlew Acquires Hillsboro Center in Deerfield Beach for $32.5 Million
DEERFIELD BEACH, Fla. (March 19, 2019) – Grover Corlew, a South Florida-based real estate investment management group, has acquired the 216,101-sq.-ft. Hillsboro Center in Deerfield Beach, Florida for $32.5 million.
Hillsboro Center includes a six-story, 116,250-sq.-ft. Class A office tower at 600 West Hillsboro Blvd. and four two-story office buildings with 99,851 sq. ft. at 700 West Hillsboro Blvd. The buildings are centrally located in an established and busy business corridor at the southeast corner of Hillsboro Boulevard and I-95 and are close to retail, dining and lodging establishments.
“We specialize in transforming centrally located suburban office properties into revitalized spaces that meet the needs of today’s businesses,” said Partner Anuj Grover. “Hillsboro Center is well positioned in a growing area of Deerfield Beach. Our proximity to I-95, U.S. 1 and the Dixie Highway flyover bridge connecting the city to Boca Raton makes Hillsboro Center a prime, easily accessible location.”
Buildings in Hillsboro Center offer flexible floor plans, 5:1,000 free surface parking, on-site management and security, lushly landscaped walkways, courtyard sitting areas, a tranquil pond, waterfalls and an on-site café. Hillsboro Center is currently 90 percent leased with such notable tenants as Dart Container Corporation, Humana and Old Republic National Title Company.
The area surrounding Hillsboro Center is bustling with activity. Just west of Hillsboro Center, JM Family Enterprises is undergoing a $150 million renovation and expansion of its headquarters campus and Ram Realty Advisors is building Deerfield Station, an apartment complex with retail space.
“Hillsboro Center is a tremendous long-term investment for us,” said Partner Mark Corlew, whose group focuses on acquiring, developing and operating office, retail and multi-family properties across the Southeastern U.S. “This high-end complex fits in perfectly with our portfolio of signature office properties.”
The acquisition of Hillsboro Center boosts Grover Corlew’s total Florida commercial portfolio to two million sq. ft. Cushman & Wakefield represented the seller in the transaction.
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About Grover Corlew
Led by experienced real estate veterans who have worked together since 2002 and who have more than 40 years of combined industry experience, Grover Corlew is a real estate investment management group focused on acquiring, developing and operating office, retail and multi-family properties across the Southeastern U.S. Grover Corlew has offices in South Florida, Orlando and Atlanta and provides in-house asset management and property management services. The company is also an active developer with in-house development expertise as well as strategic relationships with tenants and local developers throughout the Southeastern U.S.