
Denholtz Properties Expands South Florida Presence with Office Portfolio Acquisition
6 November 2019
Denholtz Properties has announced the acquisition of the Deerfield Corporate Park, a Class-A office park located at 602-668 and 776-858 Military Trail in Deerfield Beach, Fla., comprising two single-story office buildings totaling 157,438 square feet. This acquisition expands Denholtz’s Florida portfolio to nearly 1.5 million square feet.
Currently 98 percent leased to 31 tenants, Deerfield Corporate Park includes one 74,602-square-foot building and another of 82,836 square feet. The park's location offers 14-foot ceilings, building depths of 60 to 75 feet, and above-market parking ratios, all contributing to its appeal. Additionally, over $600,000 in recent capital improvements have positioned the park as a modern, high-quality office asset with updated HVAC systems, a new air-handling unit, enhanced drainage, and refreshed landscaping.
Strategically located in Broward County, the property is within a short distance from I-95 and the Florida Turnpike, granting access to 82 percent of South Florida’s population within an hour's drive. It’s also a six-minute walk from the Deerfield Beach Tri-Rail Station, providing easy access to Miami and West Palm Beach.
“With rapid population growth, a tremendous talent pool, and dynamic cities, South Florida is well-positioned for continued strength. Deerfield Corporate Park aligns perfectly with our strategy,” said Steven Denholtz, CEO of Denholtz Properties.
JP Josephson, Director of Florida Acquisitions, added, “Deerfield Corporate Park’s stable occupancy history, institutional ownership, and location were central to our decision. We continue to seek similar assets across Florida.”
The transaction was facilitated by Ivy Realty, with CBRE’s Capital Markets team led by Christian Lee and José Lobón representing the sellers.