PEBB Enterprises Sells Boca Raton Office Building for $14 Million with Partner Contrarian Capital Management
PEBB Enterprises, in partnership with Contrarian Capital Management, has sold a 61,274-square-foot office building at the Meridian Office Center in Boca Raton. The $14 million sale was an off-market deal for the single-tenant office building that is currently occupied by Lexis Nexis.
The buyer is 6601 Park of Commerce Holdings, LLP. PEBB Enterprises and Contrarian Capital Management originally purchased the 11.14-acre property within The Park at Broken Sound for $29.85 million in 2022. The joint venture still owns a second building in the office center that is occupied by Cross Country Healthcare.
“Our team is excited about the successful disposition of this prime office space in the heart of Boca Raton,” said Ian Weiner, CEO at PEBB Enterprises. “We are pleased with the outcome of this investment with our partners at Contrarian Capital Management, and we remain committed to the growing Boca Raton community.”
The Park at Broken Sound is a 700-acre mixed-use business park conveniently located directly off I-95. It offers free shuttles to and from the city’s Tri-Rail station and is close to lifestyle, entertainment, and recreation centers.
PEBB Enterprises also owns the 5900 Broken Sound building, which is leased to Infinity Sales Group and is in The Park at Broken Sound.