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JV acquires mixed-use project site in Delray Beach, Fla., for $33M

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JV acquires mixed-use project site in Delray Beach, Fla., for $33M

Insurance company TransAmerica Life sold Office Depot's former headquarters in Delray Beach, Fla., for $33 million to a joint venture led by 13th Floor Investments LLC, Key International Inc. and CDS International, The Real Deal reported.

The venture will transform the 43-acre site at 2100, 2300 and 2350 S. Congress Ave. and 2200 Old Germantown Road into about 600 apartments and about 150 for-sale townhomes, with 100,000 square feet of retail and restaurant space, 13th Floor Managing Principal Arnaud Karsenti told the publication.

The project will be integrated into the nearby 7-acre office development that CDS owns, Karsenti added.