Mainstreet acquired the property, built in 1986, in March 2006for $24.4 million. The multi-tenanted property was 89% occupied atthe time of the most recent sale. Mainstreet was represented byCushman & Wakefield executive director Jay Caplin, executivevice president Mark Gilbert and executive director Adam Feinstein,of the firm's capital markets group. The property was acquiredwithin a 1031 exchange.

"Mainstreet bought the asset over a year ago and felt it wastime to sell it and reap the profits," Caplin tells GlobeSt.com."The Boca market is very strong, there is very littleconstruction."

The sale reflects continued strength in the Boca Raton officemarket. At the end of the first quarter 2007, the market had adirect vacancy rate of 7.2%, which was the highest in the county.Leasing activity has continued to be strong this year, accountingfor 44% of the total activity in Palm Beach County's suburbansubmarkets, according to Cushman & Wakefield.