Boca Raton-based IP Capital Partners has purchased the Wells Fargo Plaza office building in Boca Raton for $23.16 million. Built in 2000 on a 2.4-acre site located at 925 S. Federal Highway, the building was 89 percent leased at the time of closing. The plaza totals 316,621 square feet: 95,381 square feet of office, 14,450 square feet for the bank and the remainder taken up by parking and common areas. The deal was completed with a $17.48 million loan from Miami Lakes-based BankUnited. Cushman & Wakefield’s Mike Davis, Michael Lerner and Rick Brugge represented the seller, Real Estate Capital Partners. āThis boutique office property is situated at one of the premier intersections in downtown Boca Raton with superior amenities and immediate access to high-end residential and decision-makers,ā said Mike Davis.
