Avison Young Closes Land Sale for Mixed-Use Project in Boca Raton Area
- Dec 07, 2016
Delray Beach, Fla.—Avison Young recently closed the $3.2 million sale of a 3-acre land parcel located at 3185 S. Congress Ave. in Delray Beach. Avison Young Principal Keith O’Donnell represented both the seller, 3185 Congress Avenue LLC, and the buyer, Kaufman Lynn Construction (DITD Holdings LLC).
Kaufman Lynn Construction plans to develop a mixed-use complex on the purchased land, which will include a Class A office building, housing the company’s national headquarters, and a 132,000-square-foot self-storage facility. Kaufman Lynn’s headquarters is currently located in Boca Raton.
“Congress Avenue in Delray Beach is a 4-mile stretch of vacant land and redevelopment opportunities nestled between the vibrancy of the city’s downtown activity and Boca Raton’s 30,000-employee corporate hub to the south,” said O’Donnell in prepared remarks. “The Delray Beach Mayor’s Task Force is diligently working towards transforming the corridor into the city’s ‘Next Great Street,’ and attracting the headquarters of a regional company represents significant stride.”
“Due to its attractive location, Delray Beach’s Congress Avenue Corridor is ideal for our business to settle, grow, and attract top talent and clientele,” added Michael Kaufman, president & CEO of Kaufman Lynn Construction.
Task Force’s vision for Congress Avenue is to continue its evolution into an innovative live-work-play community that extends the energy and appeal of Downtown Delray Beach with booming business, affordable housing, and ease of access via various transportation options. “This investment significantly moves the Delray Beach Task Force initiative forward and further positions our city as a place for businesses, and the good people and jobs they bring, to call home,” Delray Beach Mayor Cary Glickstein said in a statement.
Photo courtesy of Avison Young