Private equity firm pays $6M for Boca Raton office building

Buyer is tied to Boca Raton-based AE Industrial Partners

Miami /
Feb.February 12, 2021 09:45 AM
AeroEquity Partners' Michael Greene and David Rowe with 6700 Northwest Broken Sound Parkway, Boca Raton (AeroEquity; CBRE)

AeroEquity Partners’ Michael Greene and David Rowe with 6700 Northwest Broken Sound Parkway, Boca Raton (AeroEquity; CBRE)

A private equity firm bought an office building in Boca Raton for $6.3 million.

Records show AeroEquity Partners LLC, a Delaware corporation linked to AE Industrial Partners LP, bought the property at 6700 Northwest Broken Sound Parkway from WIlliam Scott Real Estate LLC.

Boca Raton-based AE Industrial Partners LP is a private equity firm that specializes in aerospace, defense and government services, power generation and specialty industrial markets. According to its website, AE Industrial Partners manages more than $3 billion of capital. Its current office is at 2500 North Military Trail, Suite 470 in Boca Raton, three miles south of the recently purchased office, according to its website.

William Scott Real Estate LLC is managed by Jeffrey W. Kleiman. The Florida LLC purchased the property in 2008 for $4.9 million, records show.

The property includes two separate buildings, one with two stories and one with three stories, totaling 21,832 square feet, according to property records. The buyer bought the two-story building with 10,821 square feet. It was built in 1999, records show.

CBRE represented the seller. According to a broker involved with the sale, the seller is a local real estate investor who was leasing a portion of the buildings to his son’s company, LeadFlash.

Last year, HSBC Bank filed to take possession of a vacant office building also on Broken Sound Boulevard in Boca Raton. Also, Office Depot secured $119 million in refinancing for its corporate headquarters in Boca Raton, and a company tied to Butters Construction & Development bought an office building for $13 million.





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