| Acquisition Date: |
July 2007 |
| Project Size: |
173,600 square feet |
| Acquisition Cost: |
$33.9 million |
Acquisition Cost
per SF: |
$195 |
| Major Tenants: |
Hostway, Blue Cross Blue Shield and Travelers. |
Deal Highlights:
The versatile design of Commercial Place I and Commercial Place II provides building amenities for tenants of both properties to enjoy, including an on-site fitness center and state-of-the-art conference facility. Commercial Place II also features an efficient energy management system and fiber optic communications.
The portfolio of Commercial Place I and Commercial Place II, together with 800 Fairway Drive in Deerfield Beach, was an attractive acquisition to Mainstreet. The assets were acquired at a discount to replacement cost as the Seller was closing its portfolio and disposing of assets. In addition, Paul Kilgallon, President of Mainstreet, previously directed the development of Commercial Place II while working for the seller.
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