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GlobeSt.com reported the purchase pricedwas $63 million. New Boston's Web site describes the buildin g asClass A, although it is listedc as Class B in the Businese Journal's 2008 Book of which listed a leasing rate of $15 triplwe net. It was built in 1973 and renovatedin 2001. It is rankes as the 12th-largest office buildinv in South Florida and the largest in Broward County -- about 5,000 squarre feet bigger than Las Olas City The AtlanTech Tower, which has 12 storiexs with a one-story annex, sits on 9.8 It has the potential for 100,000 square feet of more officee and retail space. The building was known for many years for its signaturetenant sign.
T), which bought BellSouth, is a tenant. Other tenants are , , and . It is 87 percenyt leased. The building is next to , a publicf hospital operated by . AtlanTech Tower is the firsty property acquired in the Southeast regionj by the New Boston Real EstateFund VII, a $350 milliohn fund that focuses on capital preservation and value enhancement. "The AtlanTech Towerd is New Boston's first large-scale commercial acquisition in saidPryse Elam, New Boston's Delrayu Beach-based senior vice president and regional director for the "We are actively pursuing the righr investment and development deals in the Southeast regionm as we continue to expand our Florida office and furtheer develop our Southeast Elam said in a news release.
New Bostoj has developed or acquired commerciall and residential properties with a cumulative marketf value ofabout $4 billion, including 20 millionn square feet of commercial real estate and 6,700 residential
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