BOCA RATON AND FORT LAUDERDALE, FLA. — Ivy Realty has closed on the purchase of four Class A office buildings in Boca Raton and Fort Lauderdale. The properties include a 21-story office tower and attached six-story office building (Tower 101) in Fort Lauderdale and two office buildings in Boca Raton totaling 132,000 square feet. Ivy Realty purchased Tower 101 from Miami-based Banyan Street Capital for $56.3 million, according to the South Florida Business Journal. Tower 101 was 94 percent leased at the time of sale to tenants such as Uniform Advantage, Quest Workspaces, KEMET, Puma and Thornton Tomasetti. The two Boca Raton properties are located within Meridian Office Center at 6551 and 6601 Park of Commerce Blvd. The two two-story properties are fully leased to LexisNexis (6601) and Cross Country Healthcare (6551). Ivy Realty purchased the assets from Blackrock for $27 million, according to the South Florida Business Journal.
Tower 101 was 94 percent leased at the time of sale to tenants such as Uniform Advantage, Quest Workspaces, KEMET, Puma and Thornton Tomasetti.
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