DEERFIELD BEACH, FL – Grove r Corlew, a South Florida-based real estate investment management group, has acquired the 216, 101-sq.-ft. Hillsboro Cente r in Deerfield Beach, Florida for S32.5 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 come r of Hillsboro Boulevard and 1-95 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 1-95, 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 cafe.
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 ion of Hillsboro Center boosts Grover Corlew’s total Florida commercial portfolio to two million sq. ft. Cushman & Wakefield represented the seller in the transaction.