Gaedeke Group Sells Crystal Corporate Center in Boca Raton and 3 Other Properties
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The Gaedeke Group has sold the Crystal Corporate Center in Boca Raton, Florida with 3 other properties. The company said that prices for commercial property was so high in South Florida that it made good sense to sell the properties at this time.
Crystal Corporate Centre, a four-story, 126,709-square-foot building at 2500 N. Military Trail, in Boca Raton
2101 Commercial, a five-story, 94,352-square-foot building at 2101 W. Commercial Blvd., in Fort Lauderdale
The sales were half of a four-building sale totaling $60.5 million.
The other two sales were of Heathrow I, a three-story, 69,742-square-foot building at 250 International Parkway, in Heathrow, and Expressway Tower, a 15-story, 195,550-square-foot building at 6116 N. Central Expressway, in Dallas. via South Florida Business Journal.
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Comment by Peter on 24 April 2008:
As someone who’s looking to sell their home I keep a close watch on Boca Raton Real Estate, however I never pay much attention to commercial properties and generally focus on homes only. It seems that commercial real estate isn’t taking quite the hit that the market for homes has. I’m pretty surprised too…in this economy who’s got the money to buy anything?