City National Bank Plaza near Boca Raton was acquired by a local company for $37.6 million.The 132,598-square-foot building was sold by 7000 West Palmetto I LLC, managed by Morris “Skip” Stoltz II, to TJAC Palmetto Park LLC, an affiliate of Boca Raton-based TJAC Development. The deal included a $31.5 million mortgage.
TJAC Development Principal Zvi Schwarzman couldn't immediately be reached for comment. The company focuses on shopping centers and student housing.
The six-story office building…
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