PALM BEACH, FL—Crocker Partners just acquiredtwo high-profile office towers fromMetLife Real Estate Investors. The class Aoffice buildings are in Boca Raton's Town CenterMall area an add 339,000 square feet of officespace to Crocker's South Florida portfolio.

Noteworthy is the fact that Crocker entities originallydeveloped both office assets: One Town Center andThe Plaza. Both are located just south of Glades Road but have seenbetter-performing days. The two buildings are only 42%occupied.

“Buying class A vacancy in one of South Florida's most desirableoffice markets is central to our investment strategy,” saysThomas J. Crocker, founder and managing partner.“Our basis in these assets is a fraction of the cost it would taketo replace them and we have significant upside potential as bothbuildings come with extensive development opportunities.”