BOCA RATON, FL-A joint venture of Fort Lauderdale-based Mainstreet Capital Partners and the New York City-based Praedium Group has acquired the 40-acre Siemens Campus in the Arvida Park of Commerce. The campus includes the 122,000-sf, five-story class A headquarters building for Nokia Siemens Networks LLC and two one-story office/flex buildings with a total of 89,000 sf.

The three buildings are 100% leased to Nokia Siemens and Siemens related companies. The acquisition price was not released.

The acquisition includes 17.2 acres of land that may be developed into 480,000 sf of office, light industrial or high technology development. The 792-acre Arvida Park of Commerce is centrally located and Siemens is one of the top 10 employers in Boca Raton.

“The Arvida Park of Commerce has a national reputation for quality buildings and attracting high-end tenants to the thriving Boca Raton market,” says Mainstreet Capital Partners president Paul Kilgallon, in a prepared statement. “South Florida’s unique combination of high growth and significant barriers to entry make it an attractive investment choice.”

This is Mainstreet’s second transaction in Boca Raton in recent months. In May, the company sold the 124,000-sf, four-story class A Crystal Corporate Center.

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