SBA Communications buys Boca office building for $23M

Miami /
Nov.November 05, 2013 02:00 PM

SBA Communications has acquired the Beacon Square office building for $22.65 million.

The company, an owner and operator of wireless communications infrastructure, intends to use the 160,000-square-foot building at 8051 Congress Avenue as its corporate headquarters. SBA plans to extensively renovate the four-story, Class A facility before moving in.

Beacon Square was developed in 2001, according to Palm Beach County records. The building was originally designed for IBM. The seller is a company managed by Coral Gables-based Flagler.

Avison Young principals Greg Martin and Keith O’Donnell, and associate Jonathan Senn, represented the Flagler company in the sale, according to a written statement from a firm spokeswoman. Studley’s Gregory Katz represented SBA.

The Beacon Square sale is the largest involving a Palm Beach County office building in 2013, according to Avison.

“The movement we are seeing from both large and small businesses transitioning from leasing to owning their space is a trend we expect to continue as tax laws change enhancing the benefits of ownership, and the supply of new space remains limited,” O’Donnell said in the company’s statement. – Eric Kalis


Related Articles

arrow_forward_ios
Alexander Bafer and 824 Pelican Point Cove, Boca Raton (LinkedIn, Choeff Levy Fischman Architecture)
Former Facebank CEO buys waterfront Boca Raton spec home for $12M
Former Facebank CEO buys waterfront Boca Raton spec home for $12M
Terranova founder Stephen Bittel and Cineworld CEO Mooky Greidinger with Shadowood Square (Getty, Google Maps, Terranova, iStock)
Terranova wins suit against Regal Cinemas over $807K in unpaid rent at Boca Raton shopping center
Terranova wins suit against Regal Cinemas over $807K in unpaid rent at Boca Raton shopping center
James and Marta Batmasian with former Boca Raton Mayor Susan Haynie (Investments Unlimited)
Ex-Boca mayor pleads guilty in public corruption case over financial ties to real estate tycoon
Ex-Boca mayor pleads guilty in public corruption case over financial ties to real estate tycoon
1871 Thatch Palm Drive in Boca Raton’s Royal Palm Yacht & Country Club. (Royal Palm Properties)
Homebuilder sells Boca Raton house for $6M
Homebuilder sells Boca Raton house for $6M
300 West Palmetto Park Road in Boca Raton with PGIM Real Estate executive Eric Adler, Harbor Group International CEO Jordan Slone and president T. Richard Litton Jr. (Google Maps)
Harbor Group International buys Boca Raton apartments for $81M
Harbor Group International buys Boca Raton apartments for $81M
Steven H. Rosen and 246 Princess Palm Road, Boca Raton (Royal Palm Yacht & Country Club)
Private equity head buys Boca Raton spec home for nearly $7M
Private equity head buys Boca Raton spec home for nearly $7M
(iStock)
South Florida by the numbers: Here comes the money
South Florida by the numbers: Here comes the money
Richard and Marie Wackenhut and 191 West Key Palm Road, Boca Raton (Google Maps, Nantucket Statue Fund, iStock)
Richard Wackenhut buys $13M Boca Raton mansion after selling Palm Beach estate
Richard Wackenhut buys $13M Boca Raton mansion after selling Palm Beach estate
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...