opportunity to develop up to 150,000 sf - katz & associates€¦ · opportunity to develop up...
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OPPORTUNITY TO DEVELOP UP TO 150,000 SF 21069 S. MIL ITARY TRAIL | BOCA RATON, FL
±6 ACRES FOR SALE
Town CenTer aT BoCa raTon
SITE
Glades Plaza
The shoPs aT BoCa CenTer
GLADES RD. - 64 ,000 ADT
BU
TT
S R
D.
- 7
,20
0 A
DT
MI L
I TARY T
RL . - 3
3 ,500 A
DT
- 2
07
,00
0 A
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BoCa raTon hiGh sChool
3,557 Students
ROXANNE REGISTERVice President, Leasing & [email protected]
(561) 869-4346
JON CASHIONPrincipal
(561) 869-4342
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PROPERTY SUMMARY
LAND AREA: 4 contiguous parcels totalling ±6 Acres. See below under “Site”.
LOCATION: 1751 N. Military Trail, Boca Raton, FL
The property is located on the west side of Military Trail across from the mixed-use project, Boca Center and one block east of the Town Center Mall. Property borders on Military Trail to the east, Town Center Road to the south and Renaissance Way to the west.
ALLOWED LAND USE:
Up to ±150,000 SF of retail, office, entertainment, restaurant and hotel use
DESCRIPTION: The subject ±6-acre site is well located in the Central Business District (CBD) zoned CG-Commercial General, Boca Raton. The current zoning allows for a FAR of 0.5 or approximately ±150,000 SF of retail, office, entertainment, restaurant and hotel use.
The subject property consists of 4 parcels, as detailed herein.
The property may be used as a mixed-use project with cross easement parking under one ownership.
The Property is part of a POA Agreement with four different property owners and the drainage pond is shared between the subject site and the Comerica Bank parcel.
SITE: The property consists of four (4) parcels as follows:
Parcel 1: 1751 N. Military Trail - vacant Bally’s, 2.5351 acres, Built 1981Parcel 2: 21046 Commercial Trail - (approximately 1 acre) currently no structure Parcel 3: S. Military Trail - vacant parcel along NE Boonday of property, 1.1361 acres. No structure on this property. Parcel 4: Lake Worth Drainage Easement - ±2.0 acres. Owner has installed a drainage pipe. No structure is allowed on this parcel - parking only.
SUMMARY | PROPERTY BOCA RATON, FL 3348621069 S. MILITARY TRAIL
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PROPERTY SUMMARY - CONTINUED
OWNERSHIP: CR VII Boca TC LP
FAR: 0.5
CURRENT ZONING:
CG - Commercial General, Boca Raton
UTILITIES: Florida Public Utilities - Water and sewer, City of Boca RatonFPL - Electric
TRAFFIC COUNTS: 33,500 ADT on Military Trail and 7,200 ADT on Town Center Road
2018 TAX ASSESSMENTS:
RE Taxes Insurance Parcel Control #
Parcel 1: $108,337 $54,727 06-42-47-23-05-006-0000 Parcel 2: $ 60,727 $31,531 06-42-47-23-05-003-0020 Parcel 3: $ 19,430 N/A 06-42-47-23-00-000-1050 Parcel 4: $ 0 N/A 06-42-47-23-00-000-1200
LEGAL DESCRIPTION:
Parcel 1: Arvida Business Plaza NLY PT of Parcel C as in OR3397P1874 & Parcel DParcel 2: Arvida Business Plaza PAR F (Portion of this parcel)Parcel 3: 23-47-42, S 60 ft on 135 ft of ELY 845.26 ft of WLY 2231.76 ft of NE 1/4 LYG N & WOF Military TrailParcel 4: A strip of land 90.00 ft in width being a portion of Lake Worth Drainage (as further described in document)
SUMMARY | PROPERTY BOCA RATON, FL 3348621069 S. MILITARY TRAIL
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AERIAL | CLOSE-UP BOCA RATON, FL 3348621069 S. MILITARY TRAIL
MIL
I TARY T
R L . - 3
3 ,500 A
DT
NW 19 TH ST.
Glades Plaza
The shoPs aT BoCa CenTer
TO TOWN CENTER MALL
TO TOWN CENTER MALL
TO TOWN CENTER MALL
TOWN CENTER RD
. - 7 ,20 0 A
DT
RE
NA
ISS
AN
CE
WA
YSITE
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SITE | APPROVED USES BOCA RATON, FL 3348621069 S. MILITARY TRAIL
APPROVED USES
RETAIL OFFICE HOTEL
RESTAURANTRESTAURANT
RETAIL OFFICE HOTEL
CLUBCLUB
FITNESS
ENTERTAINMENT
MEDICALMEDICALFITNESS
ENTERTAINMENT
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SITE | STRENGTHS BOCA RATON, FL 3348621069 S. MILITARY TRAIL
PROPERTY ANALYSIS
Strengths
• Conveniently located off I-95 and Glades Road
• Located in the CBD of Boca Raton encompassing approximately 2 million square feet of Office GLA
• Average Office Rental Rate PSF $32.00 - $40.00
• Occupancy Level 93%
• 1 Block from Town Center Mall, a top US luxury shopping destination, anchored by Neiman Marcus, Saks Fifth Avenue, Nordstrom, Macy’s and Bloomingdale’s
• Subject property is across Military Trail from Boca Center a luxury mixed-use project consisting of approximately 110,000 SF of retail, 220,000 SF of Class A Office and Marriott Hotel. Boca Center retailers consist of total Wine, Morton’s, Brio, Tap 42, Sushi Ray and Rocco’s Tacos
• Many upscale restaurants surround the site including Abe and Louie’s, Capital Grille, Houston’s, Seasons 52, Madisons, J. Alexander’s, PF Changs and Mario’s
• Proximity to I-95, Glades Road and frontage on Military Trail
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Boca Raton Resort & Club
Florida Atlantic University
Lynn University
Seasons 52 - Boca Raton
NY Prime - Boca Raton
Houston’s - Boca Raton
Town Center at Boca Raton
Boca Raton Regional Hospital
One Boca Place
PHOTOS | SURROUNDING AREA BOCA RATON, FL 3348621069 S. MILITARY TRAIL
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AERIAL | TRADEThe information herein was obtained from third parties and has not been independently verified by Katz & Associates. Any and all interested parties should have their choice of experts inspect the property and verify all information. Katz & Associates makes no warranties or guarantees as to the information given to any prospective buyer or tenant. REV: 07.15.19
BOCA RATON, FL 3348621069 S. MILITARY TRAIL
SITE