SBA Communications buys Boca office building for $23M

TRD 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
Mahnaz Zahedi pictured with her parents in 1962 (inset) and  444 E Alexander Palm Road (Getty, Zillow)

Iranian princess sells her waterfront Boca Raton home for $6M

Iranian princess sells her waterfront Boca Raton home for $6M
The Principal Richard Caster, Monica Mayotte and Andrea O’Rourke of Boca Raton City Council, and 2600 North Ocean Boulevard, Boca Raton (Credit: Azure Development)

Appeals court orders another vote on proposed Boca Raton beach duplex

Appeals court orders another vote on proposed Boca Raton beach duplex
Andrew Richardson and 1298 Cocoanut Road (Realtor)

Real estate exec sells Boca Raton home for $5M

Real estate exec sells Boca Raton home for $5M
261 Alexander Palm Rd, Boca Raton (Credit: Google Maps)

Boca Raton mansion sells for $9M

Boca Raton mansion sells for $9M
1889 Sabal Palm Drive and Dr. Lawrence “Scott” and Donna Ennis

Nip and tuck: Plastic surgeon buys Boca Raton mansion for $6M

Nip and tuck: Plastic surgeon buys Boca Raton mansion for $6M
Sal Calvino and 2989 Spanish River Road (Linkedin, Realtor)

Soaring: Aviation exec buys waterfront Boca Raton mansion

Soaring: Aviation exec buys waterfront Boca Raton mansion
Prentis Wilson and 1880 Sabal Palm Circle (Realtor)

Proceed to checkout: Former Amazon exec pays $5M for Boca Raton mansion

Proceed to checkout: Former Amazon exec pays $5M for Boca Raton mansion
310 East Alexander Palm Road (Realtor.com)

Cumberland Farms scion buys waterfront Boca Raton home

Cumberland Farms scion buys waterfront Boca Raton home
arrow_forward_ios

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

Loading...