Pebb Enterprises buys Boca Raton office building for $15M

Group recently bought two other Boca Raton properties

Miami /
Jul.July 19, 2021 06:00 PM
5900 Northwest Broken Sound Parkway and Pebb Enterprises President and CEO Ian Weiner (CBRE, Pebb)

5900 Northwest Broken Sound Parkway and Pebb Enterprises President and CEO Ian Weiner (CBRE, Pebb)

Pebb Enterprises bought a Boca Raton office building for $14.52 million and fully leased it, as it continues to invest in the area.

Pebb bought the property at 5900 Northwest Broken Sound Parkway at the Park at Broken Sound business park, according to a news release.

Seller 5900 Broken Sound LLC is managed by Dennis Lynde, records show. It bought the property for $11.6 million 2016.

The three-story, 77,340-square-foot 5900 Building had been vacant. Pebb secured a tenant: Infinity Sales Group, which partners with Fortune 500 companies to market their products and services. ISG is set to open its headquarters there under a long-term lease starting in March 2022.

Jeff Kelly of CBRE represented the seller, and Steven Leeds of Green Capital Realty Advisors represented ISG in the lease.

The Park at Broken Sound is a 700-acre mixed-use business park. Pebb, along with Tortoise Properties, bought ADT’s global headquarters at the park in 2018 for $42 million.

The latest purchase marks Pebb Enterprises‘ third significant acquisition in Boca Raton this month. The group, led by President and CEO Ian Weiner, bought the office building at 1801 North Military Trail for $18.4 million.

It also paid $2.4 million for a nearly 2-acre site where it plans to develop Restaurant Row next to Town Center at Boca Raton, according to a news release for that deal. Two spaces are pre-leased to Pubbelly Sushi and El Camino, with Pebb negotiating with other restaurants for the remaining space.

Construction is expected to be completed in the third quarter of 2022.






    Related Articles

    arrow_forward_ios
    830 Brickell and the co-developers Cain's Jonathan Goldstein and Vlad Doronin (Getty, OKO Group / Cain International)
    Lease roundup: Canada’s CI Financial picks Brickell for new US HQ
    Lease roundup: Canada’s CI Financial picks Brickell for new US HQ
    3301 Quantum Boulevard in Boynton Beach and Apex Capital Investments CEO John Gaghan (JLL, Apex)
    Apex Capital pays $37M for Boynton Beach office building
    Apex Capital pays $37M for Boynton Beach office building
    Arnaud Karsenti and one of the properties at 435 Gardenia Street (Google Maps)
    13th Floor Investments pays $26M for downtown West Palm Beach assemblage
    13th Floor Investments pays $26M for downtown West Palm Beach assemblage
    West Palm Beach workforce housing advances with $53M construction loan
    Downtown West Palm Beach workforce housing project scores $53M construction loan
    Downtown West Palm Beach workforce housing project scores $53M construction loan
    Publix-anchored shopping center in Boynton Beach trades for $17M
    Publix-anchored shopping center in Boynton Beach trades for $17M
    Publix-anchored shopping center in Boynton Beach trades for $17M
    1905 Clint Moore Road in Boca Raton with Healthcare Trust of America interim President and CEO Peter Foss (Google Maps, Healthcare Trust of America)
    Healthcare Trust of America buys Boca Raton medical offices for $50M
    Healthcare Trust of America buys Boca Raton medical offices for $50M
    Vlad Doronin, Jonathan Goldstein and CEO Satya Nadella (Getty)
    Microsoft to lease 50K sf office at under-construction Brickell tower
    Microsoft to lease 50K sf office at under-construction Brickell tower
    Blackstone chair, CEO and co-founder Stephen Schwarzman and RangeWater Real Estate CEO Steven Shores with the complex (Getty, LinkedIn via Shores, One Boynton)
    Blackstone buys Boynton Beach apartment complex for $171M
    Blackstone buys Boynton Beach apartment complex for $171M
    arrow_forward_ios

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

    Loading...