It’s been a year and a half since Levenger Co. said it would stop distribution from a 229,000-square-foot facility in Delray Beach, but the property has just sold to another company that has a new zoning code available for it.

Jones Lang LaSalle said RREEF has paid $21.2 million for the office and distribution building at 420 S. Congress Ave.

The structure is on a 13-acre site that has 3 acres of undeveloped land, the real estate company said.

Guy Ponticello, Jones Lang LaSalle managing director, said a portion of the office space is leased back to Levenger. The reading and writing products company is to continue to headquarter there. Distribution is now out of Memphis.

The city of Delray Beach recently approved a new zoning code called mixed residential office and commercial (MROC). It is specifically designated to the Congress Avenue corridor and gives property owners the ability to develop retail and residential uses, in addition to the office and industrial uses allowed in the past, with higher densities.

Published February 6, 2007 by the South Florida Business Journal

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