Brightline Breaks Ground On Boca Raton Station As Eco-Friendly Railway Continues To Connect South Florida

Brightline, the only provider of modern, eco-friendly, intercity rail in America, has broken ground on its new Boca Raton station with Kaufman Lynn Construction, Inc. as the construction manager for the garage and train station. Once completed, the station will be Brightline’s fifth operational in the state, connecting travelers in Boca Raton to Miami, Aventura, Fort Lauderdale, West Palm Beach, and soon Orlando. Located on a 1.8-acre site across from Mizner Park and adjacent to the downtown library, Brightline’s Boca station, designed by Zyscovich Architects, will feature approximately 38,000 square feet of space which will include its signature autonomous MRKT and premium lounge among other station amenities. The station will offer a seamless travel experience through modern technology, including a cashless environment, touchless turnstiles and high-speed WiFi. Brightline's Boca station is expected to be complete in the fall of 2022.

Brightline’s president, Patrick Goddard, was joined at the groundbreaking ceremony today by Congressman Ted Deutch, Boca Raton Mayor Scott Singer, Jorge Pesquera of Discover the Palm Beaches, in addition to members of the Boca city council and elected officials. The groundbreaking of Brightline’s Boca station follows the commencement of construction for the station's parking garage, announced in December of 2021.

“As a premier business and leisure destination, Boca Raton is a perfect fit for Brightline and will be an integral part of our network that will further connect the state of Florida,” said Patrick Goddard, president of Brightline. “Brightline stations help enhance the local communities and economies where we operate and provide travelers with quick access to state-wide lifestyle and tourist destinations. We look forward to building a long and productive partnership with the Boca community.”

In 2021, Brightline was awarded a $16.3 million Consolidated Rail Infrastructure and Safety Improvement (CRISI) Grant from the FRA to fund a portion of the construction of the Brightline Train Station, parking garage and associated rail infrastructure. In addition to the CRISI grant, the City has provided a commitment of $9.9 million towards funding the parking garage. The balance of the project, approximately $30 million, will be funded by Brightline. Construction of the Boca Raton station is expected to create more than 480 jobs during construction while contributing more than $23 million in wages.

The station is expected to strengthen ties between Boca Raton and South and Central Florida. By connecting to the broader Brightline system, local employers will have access to a bigger employee pool and workers will gain access to an additional 89,000 office jobs within average commute times. This investment will continue to make Boca Raton one of the most desirable and vibrant places to live, work and visit. In addition to benefitting commuters and other local residents, Brightline will serve a broad leisure travel population, and will spur increased tourism to Boca Raton.

“Brightline will be a game-changer for Boca Raton, and especially our downtown,” said Mayor Scott Singer. “We look forward to welcoming the many riders who will work at our thriving businesses and visit our cultural, dining, and shopping attractions, and for our residents to connect to a major transportation network from Miami to Orlando. Thanks to our strong partnership with Brightline and support of our Congressional delegation for an FRA grant, we can’t wait to say all aboard in Boca Raton!”

Also under construction is the 455-space parking garage that will service Brightline’s Boca station and visitors to the downtown library, who will have dedicated, covered, and complimentary spaces on the first floor. In October 2021, Brightline completed construction of the new Community Garden for the Junior League of Boca Raton, as well as a temporary parking lot for the downtown library. Brightline managed and funded the construction of both projects as part of the agreement to build the new station.

“Kaufman Lynn Construction is excited to be building this new station and garage with Brightline, the City of Boca Raton and the Federal Railroad Administration,” said Michael Kaufman, CEO of Kaufman Lynn Construction. “The entire team is excited to help connect South Florida and Central Florida with this Brightline rail stop.”

Brightline currently serves Miami, Fort Lauderdale, and West Palm Beach, with its expansion station in Aventura opening in 2022. Brightline’s current construction project to Orlando is more than 70 percent complete with over 1,300 daily workers on the job tallying more than four million hours of work. In January of 2022, Brightline began daily crew training and qualifying test runs between West Palm Beach and Cocoa. Over an eight-year period, Brightline’s corridor between Miami and Orlando will result in $6.4 billion in economic impact while creating more than 10,000 jobs. Construction of the highly anticipated expansion to Orlando is on track to be complete by the end of 2022, ​​with service to begin in early 2023.

Sold Out Boca Beach House Luxury Residences & Marina Tops Off In Boca Raton

Key International and Integra Investments, leading real estate investment and development companies in South Florida, in partnership with Wexford Real Estate Investors, a real estate investment firm – have announced the official top off of Boca Beach House Luxury Residences & Marina.

Located on Lake Boca Raton at 725 S. Ocean Blvd., the boutique residential community features 32 luxury residences built on a 3.2-acre site with an 18-slip private marina. Sales for the building were handled by Key International Sales, the exclusive brokerage for Boca Beach House led by CEO Liliana Paez. The development achieved a total sellout of $145,000,000.

“We’re very excited to celebrate the top out of this world-class project,” said Pedro Querejeta, Executive Vice President of Construction and Development for Key International. “We worked with the best in the business to deliver a product that speaks to our commitment to quality design and lifestyle. Boca Beach House residents will enjoy all the best the area has to offer.”

Boca Beach House offers a uniquely elegant community where buyers can enjoy an intimate home atmosphere coupled with five-star services and amenities. Residents will have access to round-the-clock white-glove concierge services and a state-of-the-art indoor fitness center. Outdoors, the amenities include an expansive pool terrace overlooking Lake Boca Raton, barbecue area, yoga practice area, lakefront boardwalk and a secluded outdoor spa surrounded by tropical landscape. Residences range from two to four bedrooms and 3,855 to 5,041 square feet with semi-private elevator access and expansive outdoor spaces.

Expected to debut in Summer 2022, Boca Beach House’s architectural design is by Sieger Suárez Architects and construction is being led Craft Construction.

By Katya Demina

The Residences at Uptown Boca Trades For $230 Million In Florida's Largest Multifamily Deal In 2021

The developers of Uptown Boca, Boca Raton’s first new retail and Class-A multifamily project to open in West Boca Raton in over 20 years, have sold The Residences at Uptown Boca to the Atlanta-based multifamily real estate investment, development and management company, Cortland for $230 million. The project was developed by Giles Capital Group, Rosemurgy Properties and Schmier Property Group, in partnership with Wheelock Street Capital. This transaction marks Florida’s largest multifamily deal in 2021 and the highest price per square foot for a garden-style product in Florida, to date. Cushman & Wakefield’s South Florida Multifamily Institutional Properties Group, led by Robert Given, Zach Sackley, Troy Ballard and Neal Victor, brokered the transaction.

“As lifelong Boca Raton residents and local developers, it has been truly special to create such a unique project for our local community. Our team devoted countless hours and meticulous attention to detail in developing what we consider to be one of South Florida’s premier mixed-use communities,” said Alex Rosemurgy, CEO of Rosemurgy Properties. “The Residences at Uptown Boca provides an unparalleled living experience that includes best-in-class amenities and a carefully curated restaurant and retail component just steps from our residents’ front door. Our lease-up success represents the distinct quality of the project in the South Florida market.”

The Residences at Uptown Boca, which opened in 2020, is a seven-building multifamily development managed by Park Partners Residential. Offering 456 Class-A luxury rental apartments, the development features one, two, three and four-bedroom units ranging in size from 718 SF to 1,737 SF. Just steps from The Residences, Uptown Boca’s retail component provides 179,000 SF of shops and fifteen different dining retailers. The developers of the project will remain the owners of the retail component of Uptown Boca.

"We have experienced incredible leasing performance as demand for high quality apartments in south Florida has never been higher. Our leasing team did a phenomenal job in getting the property leased up in record time, and as a result the Uptown Boca ownership team determined that this is the right time to sell," said Rick Giles, president of Giles Capital Group. "We have made every effort to create great experiences for our residential and retail customers, and we wish continued success to the new owners of this unique development."

Located at 9560 Glades Road on the corner of Glades Road and 95th Avenue South, just east of US441/SR7, Uptown Boca is a 38-acre project bringing a curated “shop, dine, live” experience to the area. The development provides residents with walkability to dining, entertainment and living options all within one vibrant local destination.

“The sale of The Residences of Uptown Boca culminates years of planning and execution by our partners Giles Capital, Rosemurgy Properties and Schmier Property Group. We are extremely proud of the community they have developed and the results for our investors,” said Hunter Jones, Principal for Wheelock Street Capital.

The Residences at Uptown Boca offers a number of amenities including a 24-hour fitness center with TRX and an indoor/outdoor CrossFit area, a yoga, spin and stretching room, a 24-hour business center that includes 3 private conference rooms, and 24-hour package pick-up lockers and cold storage. The project also includes a resident theater and entertaining lounge, a kids’ gaming and activity area, rideshare pick-up lounge, 3 dog parks, as well as a soccer field and customized 9,570 SF playground.

For more information about commercial sales or leasing in South Florida please fill out the form below:

Singapore-Based PRIME US REIT Acquires One Town Center Office In Boca Raton For $99.5 Million

The Singapore-based Prime US REIT has acquired the One Town Center office building in Boca Raton for $99.5 million. The sale price equates to $520 PSF and a 5.8% CAP rate. The seller was a joint venture between the buildings developer, the Boca Raton-based CP Group, who is the property manager and developed the building under their former name Crocker Partners, and New York City-based Siguler Guff & Co. CP Group was represented in the transaction by CBRE Vice Chairman Chris Lee, EVP José Lobón, VP Amy Julian, financial analyst Andrew Chilgren, and associate Royce Rose. The California-based KBS assisted the buyer in procuring the deal.

CP Group will continue to manage the property which was over 95% leased at the time of sale. Prime US REIT plans to renovate the common areas, lobby and restrooms.

One Town Center is a 191,294 SF office building developed in 1991 by Thomas Crocker. and located at 5355 Town Center Road. It last traded in 2014 for $81 million but was only 34% occupied at the time of sale. One Town Center rises 10-stories and features 709-parking spaces along with tenant amenities which include a café, restaurant, full security system, balcony access and a fitness center.

Image via CP Group

Brightline Reveals New Renderings of Recently Approved Boca Raton Brightline Station

Brightline continues to cement their expansion connecting South Florida by rail after Boca Raton’s Planning and Zoning Board approved the proposed design for the Boca Raton Brightline Station. Brightline revealed new renderings of the station where preliminary work on the site is already underway. Construction on a community garden and temporary parking lot which will enable construction of the station are expected to be completed by August 2021. The project will have to go through a final vote by the Boca Raton City Council in August and a request for proposals will be issued to contractors for the station in the near future.

The Federal Railroad Administration is planning to award $16.5 million towards construction of the project. On July 7, 2021 a pre-award approval was issued to Brightline to begin to purchase materials for the project.

The Alexander Team Oversees $19.9 Million Record Setting Sale Late Shoe Mogul Bob Campbell's Boca Raton Waterfront Estate

The late shoe mogul Bob Campbell’s Boca Raton waterfront estate has sold for a record setting $19.9 million with both sides of the transaction overseen by Oren Alexander of The Alexander Team at Douglas Elliman. The ultra-lavish mega-mansion closed for $17.9 million, but the total came to $19.9 million including the furniture. The sale breaks the record for highest priced single family home sold in Boca Raton.

Located at 819 Orchid Drive, the residence spans 13,000 SF of living space spread over 9 bedrooms and 14 bathrooms. The property made a mark when it first came to market representing a fresh departure from expected Boca Raton luxury. The spectacular contemporary residence on an oversized Intracoastal Waterway lot offers 343’ of water frontage and 270-degree views.

The estate incorporates extraordinary amenities such as four infinity pools, extensive private dockage, an upstairs bar, a green roof, atrium-like interiors, formal and catering kitchens, and a waterfall descending from the roof, this estate offers privacy and over-the-top luxury at a breathtaking scale. The interior features soaring walls of glass which open the living spaces to vast vistas, while each of the 9 bedrooms, including the dedicated primary suite wing, open directly to outdoor space.

Bob Campbell was chairman and chief executive officer of footwear giant BBC International, whose brands include Cole Haan, Polo Ralph Lauren, Tommy Hilfiger and Nine West. Campbell made history in the shoe industry multiple times during his career, he was the man behind the 2000s craze of the childrens shoe “Heelys” and in the 90s he brought lighted kids shoes to market taking the sneaker scene by storm, with ten million pairs sold in the first year alone.

Imagery via Douglas Elliman

ALINA Residences Receives TCO In Boca Raton Following Record-Breaking $50 Million Q1 2021

ALINA Residences Boca Raton reached its final construction milestone after receiving its temporary certificate of occupancy (TCO). The nine-story, 121-resident property, located at 200 SE Mizner Blvd. in Boca Raton, will begin closings in April. The milestone comes just as the project achieved a record-breaking $50 million in sales in Q1 2021.

“ALINA’s story began on canvas as an exquisite painting by Boca’s very own architect, Peter Stromberg,” said Noam Ziv, Executive Director of Development at El-Ad National Properties. “To stand here today having overseen its journey from canvas to completion is a monumental moment for our team and the city of Boca.”

ALINA Residences is being developed by Florida-based El-Ad National Properties, an Elad Group company, designed by architect Peter Stromberg of Garcia Stromberg/GS4 Studios and brought to life by Moss Construction. A departure from Boca Raton’s robust Spanish-Mediterranean architecture, ALINA Residences is a beacon of modern living with seamless indoor/outdoor living spaces, boutique amenities and central downtown location.

“The organic design and artful details at ALINA evoke a sense of serenity and sophistication,” said Peter Stromberg – President of GarciaStromberg. “From exterior stone accents and expansive outdoor water features and gardens, to the highly curated interior finishes with custom-designed kitchens and spa-inspired bathrooms, the residences offer a sense of tranquility with stunning views of Boca Raton.”

Residences range from one-to-four bedrooms and span from 1,400 to over 4,800 square feet, with many featuring dens and private terraces overlooking the iconic Boca Raton Resort & Club golf course. The property includes 102 fully finished homes, 12 penthouses and an exclusive collection of seven villas with expansive terraces and private gardens.

ALINA Residences features 32,000 square-feet of private outdoor amenity space including a private rooftop pool deck with lounges and cabanas, outdoor dining and entertainment areas, or the outdoor yoga/ mediation greenspace. Indoors, residents will have access to a state-of-the-art fitness center, his/her spa and elegantly appointed clubroom.

The TCO marks the completion of ALINA Residences’ first phase of development, with two additional residential buildings planned to join the project in phase two.

For more information about ALINA Residences, private showings or purchasing/ leasing information please fill out the form below:

CA Ventures Acquires Student Housing Complex In Boca Raton For $80 Million

The Chicago-based CA Ventures has acquired The University Park student housing complex in Boca Raton for $80 million, roughly $503,000 per unit. The deal was financed with a $52.35 million Fannie Mae mortgage by Grandbridge Real Estate Capital. The seller was the New York-based Investcorp International who acquired the property in $70 million in 2016.

The University Park is located at 135 NW 20th St., near Florida Atlantic University, and was developed in 2015. The multifamily building sits on 10.7 acres and features 159 apartment units with 228,097 square feet of total development. Amenities include a resort-style pool, fitness center with boxing area, yoga studio, barbecue area, study rooms, 24/7 market, gaming area with pool table, a cell phone booster tower and free roommate matching.

Avison Young Secures Office Lease At Boca Raton’s North 40 To Relocate Meisner Electric Headquarters

Avison Young has secured a new long-term lease for 15,172 sq.ft. at North 40 in the Park at Broken Sound in Boca Raton, a two-building office complex. Meisner Electric, Inc. the tenant will relocate its corporate headquarters from Delray Beach to the space at 901 Yamato Road to accommodate future growth. During the lease transaction Avison Young Principals Keith O’Donnell and Gary A. Gottlieb represented the landlord, PG Mainstreet North Forty, LLC, a joint venture between Mainstreet Capital Partners, Inc., and Partners Group. Meisner Electric also has offices in Miramar and Sarasota with a strategy to expand in other Florida markets in the future.  

“North 40 offers the opportunity for us to upgrade our corporate headquarter facilities to an ideally-located, high-quality space,” said Todd Gurne, President and COO of Meisner Electric. “After 43 years in Delray Beach, and now relocating to Boca Raton, we look forward to our continued growth as part of Palm Beach County’s business community.”

Boca Raton is one of the largest and more desirable office markets in Florida’s Palm Beach Country. According to Avison Young research, leasing activity was up countywide by a little less than 40% at the close of the third quarter following a tough second quarter with the country on a pandemic lockdown. COVID friendly office space is also now in high demand. 

“Along with its convenient location, North 40 is known for its efficient floor plate design, large air-conditioned atrium lobby allowing for social distancing, and on-site conference center, which were particularly attractive to Meisner Electric,” said Gary A. Gottlieb. “The tenant sought to consolidate its current multi-building corporate offices into one space that could accommodate future growth, and North 40 delivered.” 

Avison Young is a private company that provides value as a global real estate advisor. They provide healthy and productive workplaces for employees in cities that are prosperous.  

Bell Partners Acquires Boca Raton Multifamily Communities For $94.25 Million

The Greensboro, NC-based Bell Partners has acquired two apartment communities in Boca Raton, The Lumin at Boca Raton and Cade Boca Raton, for $94.25 million. The Lumin at Boca Raton and Cade Boca Raton are located within the Park at Broken Sound, at 5500 Broken Sound Blvd. and 950 NW Broken South Parkway respectively. The acquisition was financed by a $58.8 million mortgage provided by GIM Commercial Mortgage Loan Fund. The properties will be renamed Bell at Broken Sound. Bell Partners now owns eight apartment communities in South Florida.

5500 Broken Sound Blvd. is a 180-unit apartment complex completed in 2018 on 9.1 acres. The property was developed and sold by a joint venture between Mainstreet Capital Partners and New Century Companies and sold for $56.5 million, roughly $314,000 per unit. 950 NW Broken Sound Parkway was also completed in 2018 and features 90 townhomes on 5-acres. The property was sold by an affiliate of Bluerock Real Estate and sold for $37.75 million, roughly $419,000 per unit.