Mainstreet Capital Partners
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Crystal Corporate Center
Boca Raton, FL

Acquisition Date: January 2006
Project Size: 124,000 square feet
Acquisition Cost: $24 million
Acquisition Cost
per SF:
Major Tenants: NASD Inc., MetLife
Date Sold: May 2007
Buyer: Cypress Creek Capital
Sales Price: $33.8 million
Sales Price per SF: $273
Investor IRR: 20%

Deal Highlights:

Mainstreet bought this Class A office building in an off-market deal together with 2101 Commercial Boulevard. Mainstreet was able to negotiate a favorable deal due to the seller’s strategic withdrawal from the market after a difficult hurricane season. Mainstreet and its joint venture partner sold the building after completing repairs and renewing several tenants at significantly higher rents.

Mainstreet Capital Partners
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