Capital Realty president Ben Wacksman calls the acquisition "a jewel" and one that "will be one of the most exclusive office addresses on the east coast of Florida." He says the direct waterfront location of the building is "impossible to recreate."
The building was designed and developed as part of the $250-million Jupiter Yacht Club mixed-use development. The Yacht Club has five condominium units, 70-slip yacht marina, the Shoppes at Jupiter Yacht Club and will have a five-star hotel in the near future, Wacksman says.
The entire development is on the Intercoastal Waterway, just south of Indiantown Road and is part of the city of Jupiter's Riverwalk, a planned 2.5-mile pedestrian walkway along the Intercoastal Waterway.
Wacksman is a former Hillsborough County commissioner. Besides its one-million-sf real estate portfolio, Capital Realty Investors owns IntelliSpace Solutions, a trademarked executive suite product, and Crabby Bill's Seafood Restaurant, part of the CRI-owned Radisson Hotel, on Tampa Bay.
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