BOCA RATON, Fla. (August 15, 2016) – G&C Sabre Investors LLC, an affiliate of real estate investment group Grover Corlew, has acquired Sabre Centre I in Boca Raton, Fla. for $14.5 million.
Sabre Centre I is a 102,351 sq.-ft., six-story, Class-A office building, and along with Sabre Centre II, was the former headquarters of Siemens Corp. The building features high-end luxury finishes, renovated bathrooms and well-maintained common areas.
Located at 5901 Broken Sound Parkway within the Park at Broken Sound, the building sits on six acres with golf course and lake views and an abundance of free surface parking. Built in 1986, Sabre Centre I is ideally situated in a highly desirable residential, business and technology corridor and is strategically located just north of Yamato Road and close to I-95.
“We are pleased to add another stellar, high-end office building to our growing portfolio,” said Partner Mark Corlew, whose group focuses on acquiring, developing and operating office, retail and multi-family properties across the Southeast U.S. “Sabre Centre I is located in one of the region’s most highly sought-after submarkets, and within the Park at Broken Sound, is surrounded by 700 acres of open green space with walking trails, lakes and waterways.”
Sabre Centre I is 60 percent leased with tenants from various industries such as financial services and sports nutrition.
Marcus & Millichap Senior Vice President and Institutional Property Advisors (IPA) Senior Director Douglas Mandel and National Office and Industrial Properties Group Associate Timothy Thomas represented both parties 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 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.