Grover Corlew buys Hillsboro Center office complex in Deerfield Beach

The property sold for $32.5M or about $150 psf

TRD MIAMI /
Mar.March 19, 2019 01:30 PM

Grover Corlew’s Anuj Grover and 600 West Hillsboro Boulevard

Grover Corlew bought the Hillsboro Center office complex in Deerfield Beach for $32.5 million, a sharp increase from its last sale price in 2015.

The Pompano Beach-based real estate investment firm purchased the five-building, 216,100-square-foot development at 600 West Hillsboro Blvd for $150 per square foot, records show.

The seller is tied to Dallas-based TriGate Capital, which paid $22 million in 2015 for the buildings, records show. They were built in 1987.

Cushman & Wakefield represented the seller in the deal.

Hillsboro Center is currently 90 percent leased, with tenants including Dart Container Corp., Humana and Old Republic National Title Company, according to a press release.

Grover Corlew focuses on buying conventional office buildings, medical offices and retail properties in the Southeast. In 2016 it bought Boca Raton’s Interstate Plaza, an 87,146-square-foot office property at 1499 West Palmetto Park Road, for $9.5 million.

Deerfield Beach, close to Fort Lauderdale and I-95, has become a popular location for commercial and industrial developers.

Last month, Brookfield Property Partners bought four commercial buildings at Deerfield Beach’s Quorum Business Center for $36.3 million.

In late 2018, Adler Real Estate Partners bought a corporate park at 348-398 and 402-636 Southwest 12th Avenue for $35.1 million.


Related Articles

arrow_forward_ios
Charles Cohen and a rendering of the project (Getty, Pelli Clarke Pelli Architects)

Billionaire Charles Cohen proposes 338-foot tall office tower in West Palm

Billionaire Charles Cohen proposes 338-foot tall office tower in West Palm
4700 North Congress Avenue and Velocis Managing Partner Fred Hamm (Google Maps)

Private equity firm sells West Palm medical offices at discount

Private equity firm sells West Palm medical offices at discount
Swire president Kieran Bowers and Brickell City Centre (Google Maps)

Swire sells Brickell City Centre office buildings for $163M

Swire sells Brickell City Centre office buildings for $163M
As resi brokers in South Florida report an uptick in sales and rentals largely fueled by homeowners fleeing dense markets like New York, office brokers say they’re starting to see a similar trend play out among tech firms. (iStock)

More tech firms eye Miami as Covid carries on

More tech firms eye Miami as Covid carries on
Rendering of the project with Jon Paul Pérez (top) and Jorge Pérez 

Related switches gears on Terminal Island project, now plans low-rise offices

Related switches gears on Terminal Island project, now plans low-rise offices
NAI/Merin Hunter Codman Chairman Neil Merin and Golden Bear Plaza

Golden Bear Plaza office complex in Palm Beach Gardens sells for $50M

Golden Bear Plaza office complex in Palm Beach Gardens sells for $50M
Anabella Smith, Louis Archambault, Scott Goldstein

“There’s a lot of concern about going back to an office”: how companies are returning to work in South Florida

“There’s a lot of concern about going back to an office”: how companies are returning to work in South Florida
Jeff Greene and a rendering of 550 North Quadrille Boulevard (Credit: Arquitectonica International via Facebook)

Billionaire Jeff Greene battles with WPB mayor over unfinished office building

Billionaire Jeff Greene battles with WPB mayor over unfinished office building
arrow_forward_ios

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

Loading...