BOCA RATON, FL-Beacon Square Associates, an affiliate of Jacksonville, FL-based St. Joe Co., has sold a newly completed 168,000-sf class A office building at 8051 Congress Ave. to an unidentified buyer for $33.8 million, or about $201 per sf. The per-sf price is one of the highest this year in South Florida.

Completed in the second quarter this year, the Beacon Square Park office building is occupied by International Business Machines Corp. under a build-to-suit agreement, according to a shareholder’s report St. Joe filed earlier this year with the Securities and Exchange Commission.

St. Joe expects to gain $5 million, or EBITDA per share of six cents, on the sale. This is the second office-building sale in Boca Raton this year for St. Joe affiliates.

Earlier this year, St. Joe Commercial sold a newly constructed 310,000-sf class A office building for $52.5 million, or about $168 per sf, to the National Council on Compensation Insurance Holdings Inc.

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