CBRE Wins Leasing and Management Assignment of Atrium at Broken Sound
16 Nov 2018
Atrium at Broken Sound was sold on November 8, 2018 to a joint venture between Alchemy-ABR Investment Partners and Breakers Capital Partners
Boca Raton, Fla. – November 16, 2018 - CBRE announced today it has been selected to lease and manage Atrium at Broken Sound. Located at 6111 Broken Sound Parkway in Boca Raton, Florida, the 93,260-sq.-ft. Class A office building was purchased on November 8. CBRE’s Jeff Kelly and Owen Sagar will handle leasing efforts at the property, while Cindy Hatcher and Jessica Strober will spearhead the Property Management team.
“Our marketing strategy for The Atrium at Broken Sound will drive the momentum required to quickly secure tenants. Our goal is to deliver a strong, clear message with maximum exposure to the right audiences,” said Jeff Kelly, Executive Vice President at CBRE.
The Atrium at Broken Sound fronting the Old Course at Broken Sound is currently 89.7% occupied with a blend of tenants from industries varying from law to pharmaceutical. The property has a three-story atrium in the center of the building that gives the interior natural light and an open feel. It features upgraded tenant storage, picnic area with gazebo, security enhancements, car wash services, free WiFi throughout the common areas of the building, among other features.
“We are thrilled to be working again with the CBRE team on our newest acquisition. We have been very fortunate to have built a great relationship with them and look forward to another successful project on behalf of our tenants and various partners,” said Brian Ray, Managing Partner, Alchemy-ABR Investment Partners.
“The Property Management team will provide ownership and tenants at Atrium at Broken Sound the best possible service, real-dollar cost savings and streamlined property efficiencies. The team’s attention to detail will boost the overall property image, promote lease renewals and achieve ownership’s objectives,” commented Cindy Hatcher, Senior Real Estate Manager at CBRE.
The Atrium at Broken Sound sits just south of Clint Moore Road and east of Military Trail. The office park is positioned well with excellent access to Interstate 95 and minutes from Boca Raton Executive Airport, Town Center Mall, Park Place Center (Fresh Market, Habit Burger, Chipotle, Juice) Downtown Boca/Mizner Park and Florida’s Turnpike.
According CBRE’s MarketView Palm Beach Office Q3 2018 Report, the Palm Beach County office market continues to experience strong tenant demand, showcased by positive fundamentals.Total vacancy decreased by 80 basis points (bps) year-over-year to 13.5%. Palm Beach County’s has also had a 2,000, net increase in office-using jobs as of August 2018.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.