Thor Equities Drops $62M on Boca Raton Office
Why this matters
Office continues to trade in two distinct markets: trophy assets in walkable submarkets that are leasing at or near record rents, and commodity Class B and C buildings where the basis is still resetting. Underwriting on the latter has moved toward replacement-cost-minus, with credit underwriting now leaning on tenant covenant and remaining lease term rather than mark-to-market expectations. For LP-positioned capital, the read-through is that the bifurcation is now a structural feature of the sector, not a cycle to wait out.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- Disclosed office deal value tracked in September 2026: $14.7B across 78 reported transactions. All Office coverage →
Computed from Real Estate Trail’s own tracked coverage
Joe Sitt ’s Thor Equities has paid $62 million for the Two Town Center office complex in Boca Raton, Fla., Commercial Observer has learned. The property features 153,213 square feet of office space and a 114,599-squar…
External link. Real Estate Trail does not republish source content.
Related coverage — Office
Alston & Bird Renews Longtime Lease Atop Landmark Atlanta Office Tower
Marcus & Millichap Capital Corporation Arranges $25M Financing for Michigan Retail Property
Marcus & Millichap Capital Corporation (MMCC) announced that Todd Phillips, managing director in MMCC’s Raleigh office, secured $25 million in financing for the acquisition of a 62,364-square-foot retail property loca…
Skanska Signs Lease at 17xM to Bring DC Office Building to 93% Leased
Skanska announced a new lease with Café Unido at 17xM , filling the final portion of the building’s 13,500 square feet of ground-floor retail in downtown Washington, D.C. The milestone comes as 17xM’s office space rea…
Got Electric Opens Coeburn, Virginia Office to Expand Regional Commercial Electrical Infrastructure Support
New Southwest Virginia hub strengthens service capabilities across Virginia, Tennessee, and North Carolina IJAMSVILLE, Md., Oct. 23, 2026 /PRNewswire/ -- Got Electric LLC has opened a new regional office in Coeburn, V…