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

Buyer is tied to Boca Raton-based AE Industrial Partners

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.

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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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