DELRAY BEACH, Fla. – Florida-based real estate investment management firm Grover Corlew has acquired 220 Congress Avenue in Delray Beach for $4.2 million.
The 54,500 square-foot, three-story lakefront office building is currently 50 percent leased. Grover Corlew which focuses on acquiring, developing and operating office, retail and multi-family properties across the Southeast U.S., is planning significant improvements for the building to increase occupancy levels.
“Our plan for 220 Congress is to upgrade the property so it becomes a premier choice for tenants who seek a high-quality space in a centralized location,” said Partner Mark Corlew. “The building has easy access to I-95, nearby retail amenities and downtown Delray Beach. We know that with the right enhancements, this space will be fully leased in a short period of time.”
220 Congress is ideally located on the southwest corner of West Atlantic Avenue and South Congress Avenue in Delray Beach. The building includes underground climate controlled parking and an outdoor patio area overlooking the lake.
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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 Southeast 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 Southeast U.S.