The Real Deal Miami

Boca’s Courtyard building sells for $6.25 million

April 11, 2012 09:00AM

The Courtyard building

The Courtyard office building in Boca Raton has sold for $6.25 million, according to Marcus & Millichap, which represented the seller, a Boca Raton-based partnership. The buyer, a local investor, plans to upgrade the building. “The property is currently 42 percent occupied with below market rents, providing strong upside potential,” said Douglas Mandel, vice president for investments in the firm’s Fort Lauderdale Office, who represented the seller along with Benjamin Silver in the Miami office. — Alexander Britell