Naya USA Investment & Management, a Hollywood company owned by Yoav Merary, has purchased the URS Corporate Center in Boca Raton for $7.45 million. Built in 2000, the 42,455-square foot Class-B office building sits on a 2.67-acre lakefront parcel and traded for just over $175 per square foot. The property is located at on Congress Avenue within the Boca Commerce Center. Marcus & Millichap’s Douglas K. Mandel represented the seller RJE Investments #1 in the transaction. At the time of closing the complex was 100 percent leased.
“The Boca Raton investment market has rebounded strongly, aided by investors motivated to make purchases and wider availability of acquisition debt,” commented Mandel. “This was a rare opportunity to acquire a stabilized, multi-tenant office building with tremendous visibility and immediate access to I-95.”
