$30m Class A complex sells.

BOCA RATON, FLA: ING Clarion Partners, LLC has acquired the Schever International Plaza in Boca Raton, Florida for $29.9 million it was announced. The property was purchased on behalf of an investment fund managed by the firm.

Schever International Plaza is a two-building, three-story Class-A office complex consisting of 100,049 s/f of office space, a 38,000 S/f outdoor plaza and a secured underground parking garage. The property is well situated on West Palmetto Park Road within a short drive to Interstate-95 and the Florida Turnpike. The property was built in two phases with completion of the north building in 1989 and the south building in 1998 and is currently 94% occupied. Located in an affluent community with average household income well over $100,000, the property is well-situated within the densely populated Boca Raton market.

"Schever International is a uniquely attractive office complex located in one of Florida's most economically vibrant markets," said Edward M. Rotter, managing director of ING Clarion. "With demand for high-end office space in the region expected to remain strong, this was a great opportunity to acquire an outstanding property."