Renowned area real estate investor, Allen Chelminsky, acquired 1200 Corporate Place Park, a 137,021 square foot office property in Boca Raton. KeyStone was the seller of the building. The sales price for the building at 1200 N. Federal Hwy was $31.4 million. The property last turned over in 2011 for $15.25 million.
John DeMarco of The DeMarco Real Estate GroupTM represented the buyer, Douglas Mandel represented the seller, and City National Bank financed the transaction.
Constructed in 1984, 1200 Corporate Place underwent an extensive $2.5-million renovation in 2024. The renovation included a total upgrade of the lobby, interior and exterior fountains, and parking lot refurbishment. The property features a two-story parking garage with 177 parking spaces and a total parking capacity of 443 spaces, including 162 covered spaces.
John DeMarco added, “1200 Corporate Place offers a compelling blend of visibility, location and potential in one of Boca Raton’s most desirable submarkets.”
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