Renowned area real estate investor Allen Chelminsky has acquired 1200 Corporate Place Park, a 137,021-square-foot office property located in Boca Raton. The building, situated at 1200 N. Federal Highway, was purchased from KeyStone for $31.4 million. The last recorded sale of the property occurred in 2011, when it was acquired for $15.25 million.
John DeMarco of The DeMarco Real Estate Group represented Chelminsky in the transaction, while Douglas Mandel represented the seller. Financing for the deal was provided by City National Bank.
Originally constructed in 1984, 1200 Corporate Place recently underwent a significant $2.5 million renovation completed in 2024. The upgrades included a full renovation of the lobby, improvements to both interior and exterior fountains, and a complete refurbishment of the parking lot. The property features a two-story parking garage offering 177 parking spaces and a total of 443 spaces overall, including 162 covered spaces.
“1200 Corporate Place offers a compelling blend of visibility, location, and potential in one of Boca Raton’s most desirable submarkets,” said John DeMarco.
