Boynton Beachs Renaissance Commons Heads To Auction

Wells Fargo Bank, which won a $52.6 million foreclosure judgment over 63 commercial condos at Renaissance Commons in Boynton Beach, has scheduled an online auction for Sept. 18.

One of the biggest foreclosures in South Florida to date, the judgment is against
Boynton Development Associates II, along with managing members Anthony Comparato, Carl E. Klepper Jr. and Robert DAngelo.

Boca Raton-based Compson Associates developed the property.

The friendly foreclosure was filed July 2 with the borrower consenting to the judgment on the properties located at 1880 N. Congress Ave. and 1500 W. Gateway Blvd. in Boynton Beach. The buildings are 122,338 and 109,000 square feet.

Wachovia Bank originated the mortgage in 2004, before it was taken over by Wells Fargo. It was modified in 2008 at $56.6 million.

Eighteen of the units were previously sold. Tenants include Bonefish Grill, AT&T, Lemon Grass Asian Bistro, Village Tavern, the Wine Cellar and Starbucks.

The Class A, mixed-use building on Congress Avenue has 22 office spaces available for lease at an asking price of $18 per square foot, according to an online listing.

The Gateway Boulevard building has an online listing for 10,016 square feet of restaurant space and an asking price of $30 per square foot to lease.