Boca News

Athan "Tom" Prakas, president/broker of he Prakas Group Inc., has announced the ompletion of the sale of one of Boca laton's most notable restaurants. Prakas and John Douglas, vice president, eal estate investments and business acqui-itions, were exclusive brokers to Talbott lealty, Inc.'s purchase of the 6,700 square jot building on 36,000 square feet of land jcated at 770 East Palmetto Park Road, tie former home of La Vieille Maison, Boca baton's most famous French restaurant and ve-star destination for 30 years. The eslaurant recently closed. Prakas and Douglas were exclusive bro-ers representing the buyer as well as the eller, Leonce Picot, The restaurant can ccommodate 120 guests. The sale is valued at $3.1 million.

Greg Talbott of Talbott Realty, a major eveloper in Boca Raton, owns a significant ortfolio of investment properties through-ut South Florida. "The property's cachE ithin the Boca Raton community not only draws attention for its history, but also for its future, strategically positioned in the flourishing corridor of Palmetto Park Road in East Boca," said Talbott, "Current resi­dential growth of this Intracoastal stretch gives the property intriguing potential. It's a great opportunity."

"There's no doubt The Prakas Group will generate an exceptional menu of candidates for this space," he added. "They know restaurant brokerage."

"We were not surprised by the interest generated by such a famous locale and its tremendous appeal to investors," said Douglas. "Talbott Realty has made a wise investment and The Prakas Group is pleased to be exclusively representing the property on their behalf. There are already famous restaurateurs and chefs interested in leasing and renovating the space."

The Prakas Group, established in 2000, is on track to close more than $300 million in sales over a six-year period. It is headquar­tered at 705 East Palmetto Park Road in Boca Raton.

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