A joint venture between Pebb Enterprises and Tortoise Properties bought home security provider ADT’s global headquarters in Boca Raton, Florida, for $42m. The building is located on a 10-acre parcel within The Park on the Broken Sound business campus. The property spans more than 171,000 sq ft and has a cafeteria and gym. ADT has more than five years left on its lease and subleases about 30,000 sq ft to United Physicians Management. The sale was completed with a $28.6m mortgage provided by BankUnited. Cushman & Wakefield represented the seller, an affiliate of Philadelphia-based RAIT Financial Trust.
