BOCA RATON, FL-The Fountains at Camino, a seven-building, 180,000-square-foot class B office and retail property in the heart of downtown Boca, was acquired by Boca Medical Plaza LLC for $16 million. CBRE represented seller Capmark Bank in the sale, which recently acquired the asset via foreclosure, according to a statement from the brokerage firm.
Located at 7000-7700 West Camino Real in Boca Raton, the park totals 184,575 rentable square feet including two banks and two medical office users. The building, which totals 48% occupancy at closing, is a value add opportunity for the buyer, says CBRE. Boca Medical Plaza is planning to reposition the asset to focus on medial use.
Scott O'Donnell and Dominic Montazemi from CBRE's Private Capital Group were joined by Christian Lee and Charles Foschini from CBRE’s Institutional Group in representing the seller, CB Camino Real, a limited liability corporation of Capmark Bank.
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