The building was privately offered, Evan Nadler of the localoffice of Codina Realty Services, who represented the buyer, "A big part of what our team is doing here now," hesays, "is finding opportunities that have not come to market.There's not much available land and few sale opportunitiesavailable."

According to Nadler, the Codina team, which also includes KeithO'Donnell, director of the office, and Jay Whelchel, anotherassociate, has marketed 160 acres of land for a total of about $65million and office properties aggregating $83 million in sales inBoca Raton alone over the past 12 months. "Almost all come fromreferrals and word of mouth interest," he says.

The Arvida Park encompasses 850 acres and contains more than 50office, research and industrial properties under various ownership.The 791 Park of Commerce building is currently 100% leased, and GEInterlogics, a subsidiary of General Electric, occupies 88,729 sf,or about 65% of the building under a lease that calls for annualincreases and has about 10 years remaining. "Although there will besome roll-over in a year, the GE lease provides the buyer withsecure income," Nadler says.

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