Deerfield Beach – Grover Corlew, a South Florida- based real estate investment management group, hasacquired the 216,101 square-foot Hillsboro Center for $32.5 million.
Hillsboro Center includes a six-story, 116,250 square-foot 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 comer of Hillsboro Boulevard and 1-95 and are close to retail. dining and lodging establishments.
“We specialize in transforming centrally located suburban office properties I square- into revital ized 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 1-95, U.S. I and the Dixie Highway flyover bridge connecting the city to Boca Raton makes Hillsboro Cenier a prime, easily accessible location.”
Buildings in Hillsboro Center offer flexible floor plans. free surface parking,on-site management
and security, landscaped walkways, courtyard sitting areas, a tranquil pond , waterfalls and an on-site cafe.
It 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 activi1y.
Just west of Hillsboro Center. JM Fan1ily Enterprises is undergoing a $ 150 million renovation and expansion of its headquarters can1pus; 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. ”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 1wo
million square feet.
Cushman & Wakefield represented the seller in the transaction.