New York-Based Investor Opts for Mediterranean Style
- Jul 13, 2015
By Balazs Szekely, Associate Editor
A fully occupied, 89,043-square-foot premier office campus in Coral Springs changed hands.
New York-based real estate investment and property management firm Benedict Realty Group purchased Heron Bay Corporate Center I & II for $20.2 million. The seller, Ivy Realty was represented by CBRE Investment Properties’ Senior Vice President Scott O’Donnell of, who collaborated with Dominic Montazemi, Christian Lee, Miguel Alcivar, Travis Herring and Deanna Lobinsky. Jason Hochman of CBRE Debt and Structured Finance sourced the debt options for the buyer.
The two three-story, Class A office buildings were constructed between 1999 and 2001 in Mediterranean architectural style. Situated on 6.02 acres at 11555 & 11575 Heron Bay Blvd., the property is conveniently accessible from Florida’s Turnpike via the Sawgrass Expressway. The previous ownership acquired the campus three years ago and increased occupancy from under 30 to 100 percent according to O’Donnell. It now houses tenants like AOD Software, Pearl Holding Group, Regus and Century Link.
Photo credits: Regus Group Companies