Shopping Strip
Boca Lake Center in Prime Boca Raton, FL Location
7880 Glades Rd, Boca Raton, FL 33434
Listing Price: $10,000,000
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire Boca Lake Center located in prime Boca Raton, Florida. This location includes 36,000 square feet of rentable, multi-tenant space. Recent renovations include façade upgrade & paint, landscaping, elevator upgrade, and new AC/cooling tower. Multiple tenants recently extended lease terms and converted from gross to triple net (NNN) leases. Value-add opportunity remains for a buyer by extending additional lease terms and converting remaining tenants over time from gross to triple net (NNN). The center is also available to purchase with Bank OZK, located on adjacent parcel – contact listing agent Alan Lipsky for more information.
The subject property is in a high traffic area, located on Glades Road, one of the major east-west arterial roads in Boca Raton serving as a primary thoroughfare. The property is located immediately at the intersection of Glades Road and Florida’s Turnpike, which is ranked among the busiest intersections in South Florida, experiencing high traffic volumes on a consistent basis with a combined traffic count of approx. 160,000 vehicles daily, as well as close proximity to the ramps to/from Interstate 95, with more than 225,000 vehicles daily; this is a true trophy intersection.
The surrounding area has extremely strong demographics with a population of over 100,000 within three miles of subject property, and over 250,000 in five miles. The average annual household income is $138,223 in one mile and projected to reach $151,494 by 2028.
Multiple new developments are adding thousands of new homes within walking distance of the property. This includes but is not limited to Boca Grove with approx. 450 homes priced between $924,900 – $5,975,000, Boca West with 6,000+ residents across 55 residential neighborhoods, Lotus Palm with approx. 525 new homes starting at $1.2 million, and Lotus Edge with 655 new homes priced between $1.4 – $3 million.
Surrounding national brands include Lowes, The Home Depot, Publix Supermarket, Aldi, The Fresh Market, Sprouts Farmers Market, Target, Walmart Supercenter, T.J. Maxx, Hobby Lobby, Big Lots, Old Navy, Best Buy, Office Depot, Dick’s Sporting Goods, Ross, Party City, LA Fitness, Orange Theory Fitness, Rooms To Go, Macy’s Furniture Gallery, Marshalls, HomeGoods, DSW, Pet Supermarket, PetSmart, Burlington, Bank of America, TD Bank, Chase Bank, Benihana Japanese Steakhouse, Bonefish Grill, Chili’s Grill & Bar, Miller’s Ale House, Papa John’s Pizza, McDonald’s, Chipotle, Chick-fil-A, T-Mobile, Verizon, 7-Eleven, Starbucks, Walgreens, Hilton Suites, Holiday Inn Express and many more.
Boca Lake Center in Prime Boca Raton, FL Location
Investment Highlights
- Center is Also Available to Purchase With Bank OZK, Located on Adjacent Parcel – Contact Listing Agent for More Information
- Approx. 36,000 Square Feet of Rentable Multi-Tenant Space With Recent Renovations Include Landscaping, Façade Upgrade and Paint, New AC/Cooling Tower, and Elevator Upgrade
- Multiple Tenants Recently Extended Lease Terms & Converted from Gross to NNN Leases | Value-Add Opportunity by Extending Additional Lease Terms Converting Remaining Tenants Over Time from Gross to NNN
- High Traffic Area – Located on Glades Road, One of the Major East West Arterial Roads in Boca Raton Serving as a Primary Thoroughfare Connecting Residential Neighborhoods, Shopping Centers, Schools, and Businesses – With a Daily Traffic Count Over 49,000 Vehicles
- Located Immediately at the Intersection of Glades Road and Florida's Turnpike, Ranked Among the Busiest Intersections in South Florida, Experiencing High Traffic Volumes on a Consistent Basis With a Combined Traffic Count of Approx. 160,000 Vehicles Daily | True Trophy Intersection
- Close Proximity to the Ramps To/From Interstate 95, With More Than 225,000 Vehicles Daily
- Population Over 100,000 Within Three Miles of Subject Property, and Over 250,000 in Five Miles | Average Annual Household Income is $138,223 in One Mile and Projected to Reach $151,494 by 2028
- Multiple New Developments Are Adding Thousands of New Homes Within Walking Distance of The Property, Including Boca Grove With Approx. 450 Homes Priced Between $924,900 – $5,975,000, Boca West With 6,000+ Residents Across 55 Residential Neighborhoods, Lotus Palm With Approx. 525 New Homes Starting At $1.2 Million, And Lotus Edge With 655 New Homes Priced Between $1.4 – $3 Million
Exclusively Listed By
Shopping Strip
Boca Lake Center in Prime Boca Raton, FL Location
Listing Price: $10,000,000
Investment Highlights
- Center is Also Available to Purchase With Bank OZK, Located on Adjacent Parcel – Contact Listing Agent for More Information
- Approx. 36,000 Square Feet of Rentable Multi-Tenant Space With Recent Renovations Include Landscaping, Façade Upgrade and Paint, New AC/Cooling Tower, and Elevator Upgrade
- Multiple Tenants Recently Extended Lease Terms & Converted from Gross to NNN Leases | Value-Add Opportunity by Extending Additional Lease Terms Converting Remaining Tenants Over Time from Gross to NNN
- High Traffic Area – Located on Glades Road, One of the Major East West Arterial Roads in Boca Raton Serving as a Primary Thoroughfare Connecting Residential Neighborhoods, Shopping Centers, Schools, and Businesses – With a Daily Traffic Count Over 49,000 Vehicles
- Located Immediately at the Intersection of Glades Road and Florida's Turnpike, Ranked Among the Busiest Intersections in South Florida, Experiencing High Traffic Volumes on a Consistent Basis With a Combined Traffic Count of Approx. 160,000 Vehicles Daily | True Trophy Intersection
- Close Proximity to the Ramps To/From Interstate 95, With More Than 225,000 Vehicles Daily
- Population Over 100,000 Within Three Miles of Subject Property, and Over 250,000 in Five Miles | Average Annual Household Income is $138,223 in One Mile and Projected to Reach $151,494 by 2028
- Multiple New Developments Are Adding Thousands of New Homes Within Walking Distance of The Property, Including Boca Grove With Approx. 450 Homes Priced Between $924,900 – $5,975,000, Boca West With 6,000+ Residents Across 55 Residential Neighborhoods, Lotus Palm With Approx. 525 New Homes Starting At $1.2 Million, And Lotus Edge With 655 New Homes Priced Between $1.4 – $3 Million
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire Boca Lake Center located in prime Boca Raton, Florida. This location includes 36,000 square feet of rentable, multi-tenant space. Recent renovations include façade upgrade & paint, landscaping, elevator upgrade, and new AC/cooling tower. Multiple tenants recently extended lease terms and converted from gross to triple net (NNN) leases. Value-add opportunity remains for a buyer by extending additional lease terms and converting remaining tenants over time from gross to triple net (NNN). The center is also available to purchase with Bank OZK, located on adjacent parcel – contact listing agent Alan Lipsky for more information. The subject property is in a high traffic area, located on Glades Road, one of the major east-west arterial roads in Boca Raton serving as a primary thoroughfare. The property is located immediately at the intersection of Glades Road and Florida’s Turnpike, which is ranked among the busiest intersections in South Florida, experiencing high traffic volumes on a consistent basis with a combined traffic count of approx. 160,000 vehicles daily, as well as close proximity to the ramps to/from Interstate 95, with more than 225,000 vehicles daily; this is a true trophy intersection. The surrounding area has extremely strong demographics with a population of over 100,000 within three miles of subject property, and over 250,000 in five miles. The average annual household income is $138,223 in one mile and projected to reach $151,494 by 2028. Multiple new developments are adding thousands of new homes within walking distance of the property. This includes but is not limited to Boca Grove with approx. 450 homes priced between $924,900 – $5,975,000, Boca West with 6,000+ residents across 55 residential neighborhoods, Lotus Palm with approx. 525 new homes starting at $1.2 million, and Lotus Edge with 655 new homes priced between $1.4 – $3 million. Surrounding national brands include Lowes, The Home Depot, Publix Supermarket, Aldi, The Fresh Market, Sprouts Farmers Market, Target, Walmart Supercenter, T.J. Maxx, Hobby Lobby, Big Lots, Old Navy, Best Buy, Office Depot, Dick’s Sporting Goods, Ross, Party City, LA Fitness, Orange Theory Fitness, Rooms To Go, Macy’s Furniture Gallery, Marshalls, HomeGoods, DSW, Pet Supermarket, PetSmart, Burlington, Bank of America, TD Bank, Chase Bank, Benihana Japanese Steakhouse, Bonefish Grill, Chili’s Grill & Bar, Miller’s Ale House, Papa John’s Pizza, McDonald’s, Chipotle, Chick-fil-A, T-Mobile, Verizon, 7-Eleven, Starbucks, Walgreens, Hilton Suites, Holiday Inn Express and many more.
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