FOR IMMEDIATE RELEASE
March 22, 2017, Boca Raton FL.
Butters Acquires 120,000 Sq. Ft. Office Building in Boca Raton
Butters Acquisitions LLC is pleased to announce that its affiliated entity, BREF 1900 LLC, has acquired the 120,000 Sq. Ft. office complex at 1900-2000 NW Corporate Blvd, off of Glades Road and I-95 in Boca Raton, FL.
This is the third office acquisition for Butters in the Boca Raton market in the past year. Previous acquisitions included 851 Broken Sound, and 3010 Military Trail, bringing the total office acquisition in Boca Raton to 210,000 Square Feet and $32 million, over the past 12 months.
The buildings at 1900-2000 NW Corporate Blvd are 78% occupied. Butters plans on investing over $3 million in renovations into the 30 year old complex.
“With very little new office supply coming online and strong population growth, we felt this asset has excellent staying po
wer.” Says Adam Vaisman, Director of Acquisitions for Butters.
The capital improvement includes a new entry feature, improved corridors, and lighting and landscaping improvements, raising it from a Class B office to a Class A.
“Boca Raton is the largest and most active office markets in Palm Beach County. With the revitalization of downtown, the expansion of FAU, and the lack of any new office product, this an intriguing investment.” Says Malcolm Butters, CEO