Fresh off the heels of its recent acquisition and a multimillion-dollar capital improvement infusion, 1200 North Federal Highway is getting a new leasing team and rebranding refresh.
The Colliers South Florida office leasing team, led by Senior Vice President Darcie Lunsford, has been chosen to handle leasing and marketing of the 137,000-square-foot, all-glass midrise, which spans nearly a city block at the T-intersection of Federal Highway and Glades Road.
The building was acquired in August by veteran South Florida office owner and operator Allen Chelminsky. Since his acquisition, Chelminsky has invested more than $3 million to renovate common areas, restrooms, landscaping, fountains and the building exterior, update mechanical systems, upgrade the roof, restore the parking lot and garage, and add state-of-the-art security systems and new property-wide LED lighting. The four-story building also offers a newly refurbished onsite café, lushly landscaped indoor courtyard and exterior dining areas, reserved under-building executive parking, and electric vehicle charging stations.
“When we buy an asset, we don’t waste time or spare any expense to rapidly bring it up to our high-quality portfolio standards,” said Chelminsky. “There is no part of the building that we have not carefully designed and curated to offer corporate tenants the best business environment in Boca Raton.”
The reposition ushers in a new wave of modernized office space and leasing opportunities for the residentially-dense and highly amenitized east Boca Raton market.
“The building now looks and feels wholly renewed and refreshed while offering that secret-sauce combination— contemporary space with economic value— that we find missing in the East Boca market,” says Lunsford. “Historically, tenants in East Boca could either pay up for modern space or trade down to older, dated buildings. Now you can find both quality and value in what is arguably one of the most prominent and easily accessible locations in the Federal Highway submarket.”
Chelminsky maintains a long-standing real estate presence across the South Florida and the Treasure Coast, owning and operating more than 2 million square feet of commercial buildings from Miami to Port St. Lucie.
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2026-02-08 14:24:562026-02-08 14:24:56Colliers Tapped To Lease Newly Renovated East Boca Office
A long-standing office property in Boca Raton may be repositioned as a mixed-use residential project under Florida’s Live Local Act.
ZNT LLC, led by Jeffrey Levitetz of Boca Raton-based Bark Property Management, has submitted an application to amend the master plan for an 8-acre site at 5300 Broken Sound Blvd. NW. The request would allow the existing office property to be redeveloped into a multifamily and retail project utilizing Live Local Act provisions.
The site is part of a broader master-planned area that previously included a neighboring 297-unit apartment community at 5400 Broken Sound Blvd. NW, now known as Amalta Broken Sound. ZNT LLC sold that parcel in 2019 to affiliates of Related Group and Rockpoint Group, which completed the development in 2022. The property was sold later that year for $194 million, underscoring the strength of the Boca Raton multifamily market.
ZNT LLC now controls the remaining parcel, which currently contains a 58,614-square-foot office building dating back to 1982. According to online listings, nearly all of the office space is presently available for lease.
Under the Live Local Act, developers may build multifamily projects at the maximum height and density allowed within a municipality if a portion of the units are designated as workforce housing. While the state law generally requires 40% of units to meet workforce housing thresholds, Boca Raton has adopted a local ordinance allowing projects to qualify with as little as 10%.
Plans for the Broken Sound Boulevard site call for a seven-story development with 191 residential units, supported by a five-story parking garage with 420 spaces. The proposal also includes two retail buildings totaling 31,000 square feet, along with 230 surface parking spaces dedicated to retail use. Of the residential units, 19 would be reserved for households earning up to 120% of area median income, and 10 units would serve households earning up to 140% of area median income.
Preliminary plans identify two retail spaces as potential grocery and emergency room uses, though no tenants have been formally announced. The project was designed by Boca Raton-based HDA Architects.
While several Live Local Act proposals have been submitted in Boca Raton, none have begun construction to date. The first Live Local Act project combining workforce and market-rate housing to break ground in the region is located in nearby Boynton Beach.
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2026-02-01 17:04:202026-02-01 17:04:20Boca Raton Office Building Could Be Redeveloped
Institutional Property Advisors (IPA) announced the sale of the PGA Design Center, a 43,878-square-foot professional building located within PGA Station, a mixed-use development in Palm Beach Gardens.
The property sold for $15.5 million.
“Located in one of South Florida’s most affluent and supply-constrained markets, the property benefits from long-term tenancy, strong lease commitments, and the demand drivers of a master-planned environment that integrates office, medical, retail and hospitality,” said Douglas Mandel, IPA executive managing director investments.
Mandel, along with Zach Levine and Cody Hershey of Marcus & Millichap represented the seller, PGA Design Partners LP, with support from the Falk Weprin team at Colliers. The Marcus & Millichap team, in collaboration with Colliers executive vice president Scott Weprin, sourced the purchaser, LRP Properties 3901 LLC.
The property is just off RCA Boulevard, close to PGA Boulevard, and Interstate 95. The Gardens Mall, Downtown at the Gardens, and the PGA National Resort and Spa are nearby.
Within a three-mile radius, the population is over 79,000 and the annual median income is more than $439,000.
Built in 2006, the PGA Design Center’s tenants are New Radiance Cosmetic Centers, Score At The Top Learning Centers and Schools, and Outside the Box Coastal Home Furnishings. At the time of the sale, the center was 100% occupied.
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2026-01-25 13:08:582026-01-25 13:08:58IPA Brokers Office Asset Sale In Palm Beach County
An office property in western Broward County recently sold, reflecting continued investment activity in the region’s commercial real estate market.
The Edison Pembroke Pines, located at 1200-1300 Southwest 145th Avenue, sold for $44.5 million. Spanning nearly 263,000 square feet, the transaction equates to approximately $170 per square foot.
The seller was Pembroke 145 Office LLC, an affiliate of TPA Group, which originally acquired the property in 2017 for $12.2 million.
The buyer was an LLC tied to Midtown Capital Partners. The acquisition underscores ongoing interest from local capital groups seeking scale and long-term positioning within the South Florida office market.
Despite broader shifts in office demand nationwide, transactions of this size suggest that investors continue to pursue well-located, institutional-quality office properties in the region.
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2026-01-18 08:28:162026-01-18 08:28:16Pembroke Pines Office Property Trades, More Than Triples In Value
Vision Real Estate Advisors’ Managing Directors Elon Gerberg and Adam H. Klein announced the successful closing of the Boca Raton Executive Offices.
Located at the high-visibility corner of Yamato Road and Highway 441 in Boca Raton, Boca Raton Executive Offices, a 11,300-square-foot office building, sold for $5,750,000, or approximately $800 per square foot.
Demonstrating the firm’s brokerage expertise, the deal closed as-is with no inspections in just 30 days.
“This property sat on the market for an entire year before we were awarded the listing,” said Adam H. Klein, Managing Director at Vision Real Estate Advisors. “Once engaged, we generated nearly 10 offers and moved to a swift 30-day closing. This result proves that capital remains incredibly aggressive for quality, high-visibility assets in South Florida.”
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2026-01-12 15:10:502026-01-12 15:10:50Vision Real Estate Advisors Completes Sale Of Boca Office Building For $800 PSF
Downtown West Palm Beach’s office market is thriving—but rising rents are making it harder for some longtime tenants to keep a foothold in the city core.
The surge is largely fueled by billionaire developer Stephen Ross, whose aggressive investment and development strategy has helped transform downtown West Palm into one of South Florida’s most competitive office markets. His projects have drawn a steady stream of high-profile tenants and helped accelerate the city and county’s long-term growth vision.
That momentum, however, has driven rents sharply higher across downtown, including in buildings Ross does not own. As a result, some established tenants are being priced out and are relocating to suburban areas of Palm Beach County, where new office development is beginning to follow demand.
One notable example is law firm Lytal, Reiter, Smith, Ivey & Fronrath, which last year moved most of its operations from the Northbridge Centre in downtown West Palm—where it had leased space for roughly 40 years—to Palm Beach Gardens. The firm cited renewal proposals that were several times higher than its previous rent, reflecting what some tenants describe as unsustainable downtown pricing.
According to local brokers, asking rents in excess of $100 per square foot are prompting more companies to explore suburban alternatives. That shift is helping spark new office construction outside the urban core.
In Palm Beach Gardens, Gatsby Florida—an affiliate of Gatsby Enterprises—is planning The Modern, an eight-story, 220,000-square-foot office building with a six-story parking garage at 11200 RCA Center Drive. The project, expected to deliver in 2027, is being positioned in part to attract out-of-state firms and executives relocating to South Florida. Gatsby acquired the site for $17.5 million in 2022.
Meanwhile, in Boca Raton, construction is underway on The Aletto, a two-building office campus totaling 140,000 square feet that is already approximately 60 percent pre-leased.
Developers and brokers say these projects reflect growing demand for high-quality suburban office space that offers modern amenities without downtown pricing.
Ross, who launched Related Ross after stepping back from New York-based Related Companies in 2024, has made downtown West Palm the centerpiece of his development focus. His portfolio includes roughly a dozen office buildings in various stages, along with residential, hotel, and mixed-use projects.
By leveraging longstanding relationships—particularly within the financial services sector—Ross quickly filled many of his office properties with out-of-state tenants. More recently, his firm has also pushed to position Palm Beach County as an emerging technology hub.
While downtown West Palm continues to gain national attention, the ripple effects of its success are reshaping the broader county office market—creating new opportunities, but also new challenges, for tenants navigating the region’s rapid growth.
Colliers Tapped To Lease Newly Renovated East Boca Office
/in News/by SFOBA STAFFFresh off the heels of its recent acquisition and a multimillion-dollar capital improvement infusion, 1200 North Federal Highway is getting a new leasing team and rebranding refresh.
The Colliers South Florida office leasing team, led by Senior Vice President Darcie Lunsford, has been chosen to handle leasing and marketing of the 137,000-square-foot, all-glass midrise, which spans nearly a city block at the T-intersection of Federal Highway and Glades Road.
The building was acquired in August by veteran South Florida office owner and operator Allen Chelminsky. Since his acquisition, Chelminsky has invested more than $3 million to renovate common areas, restrooms, landscaping, fountains and the building exterior, update mechanical systems, upgrade the roof, restore the parking lot and garage, and add state-of-the-art security systems and new property-wide LED lighting. The four-story building also offers a newly refurbished onsite café, lushly landscaped indoor courtyard and exterior dining areas, reserved under-building executive parking, and electric vehicle charging stations.
The reposition ushers in a new wave of modernized office space and leasing opportunities for the residentially-dense and highly amenitized east Boca Raton market.
Chelminsky maintains a long-standing real estate presence across the South Florida and the Treasure Coast, owning and operating more than 2 million square feet of commercial buildings from Miami to Port St. Lucie.
Boca Raton Office Building Could Be Redeveloped
/in News/by SFOBA STAFFA long-standing office property in Boca Raton may be repositioned as a mixed-use residential project under Florida’s Live Local Act.
ZNT LLC, led by Jeffrey Levitetz of Boca Raton-based Bark Property Management, has submitted an application to amend the master plan for an 8-acre site at 5300 Broken Sound Blvd. NW. The request would allow the existing office property to be redeveloped into a multifamily and retail project utilizing Live Local Act provisions.
The site is part of a broader master-planned area that previously included a neighboring 297-unit apartment community at 5400 Broken Sound Blvd. NW, now known as Amalta Broken Sound. ZNT LLC sold that parcel in 2019 to affiliates of Related Group and Rockpoint Group, which completed the development in 2022. The property was sold later that year for $194 million, underscoring the strength of the Boca Raton multifamily market.
ZNT LLC now controls the remaining parcel, which currently contains a 58,614-square-foot office building dating back to 1982. According to online listings, nearly all of the office space is presently available for lease.
Under the Live Local Act, developers may build multifamily projects at the maximum height and density allowed within a municipality if a portion of the units are designated as workforce housing. While the state law generally requires 40% of units to meet workforce housing thresholds, Boca Raton has adopted a local ordinance allowing projects to qualify with as little as 10%.
Plans for the Broken Sound Boulevard site call for a seven-story development with 191 residential units, supported by a five-story parking garage with 420 spaces. The proposal also includes two retail buildings totaling 31,000 square feet, along with 230 surface parking spaces dedicated to retail use. Of the residential units, 19 would be reserved for households earning up to 120% of area median income, and 10 units would serve households earning up to 140% of area median income.
Preliminary plans identify two retail spaces as potential grocery and emergency room uses, though no tenants have been formally announced. The project was designed by Boca Raton-based HDA Architects.
While several Live Local Act proposals have been submitted in Boca Raton, none have begun construction to date. The first Live Local Act project combining workforce and market-rate housing to break ground in the region is located in nearby Boynton Beach.
Source: SFBJ
IPA Brokers Office Asset Sale In Palm Beach County
/in Done Deals, News/by SFOBA STAFFInstitutional Property Advisors (IPA) announced the sale of the PGA Design Center, a 43,878-square-foot professional building located within PGA Station, a mixed-use development in Palm Beach Gardens.
The property sold for $15.5 million.
Mandel, along with Zach Levine and Cody Hershey of Marcus & Millichap represented the seller, PGA Design Partners LP, with support from the Falk Weprin team at Colliers. The Marcus & Millichap team, in collaboration with Colliers executive vice president Scott Weprin, sourced the purchaser, LRP Properties 3901 LLC.
The property is just off RCA Boulevard, close to PGA Boulevard, and Interstate 95. The Gardens Mall, Downtown at the Gardens, and the PGA National Resort and Spa are nearby.
Within a three-mile radius, the population is over 79,000 and the annual median income is more than $439,000.
Built in 2006, the PGA Design Center’s tenants are New Radiance Cosmetic Centers, Score At The Top Learning Centers and Schools, and Outside the Box Coastal Home Furnishings. At the time of the sale, the center was 100% occupied.
Pembroke Pines Office Property Trades, More Than Triples In Value
/in Done Deals, News/by SFOBA STAFFAn office property in western Broward County recently sold, reflecting continued investment activity in the region’s commercial real estate market.
The Edison Pembroke Pines, located at 1200-1300 Southwest 145th Avenue, sold for $44.5 million. Spanning nearly 263,000 square feet, the transaction equates to approximately $170 per square foot.
The seller was Pembroke 145 Office LLC, an affiliate of TPA Group, which originally acquired the property in 2017 for $12.2 million.
The buyer was an LLC tied to Midtown Capital Partners. The acquisition underscores ongoing interest from local capital groups seeking scale and long-term positioning within the South Florida office market.
In April 2025, Comcast settled into a 28,890-square-foot space at the property, vacating 63,850 square feet at 789 International Parkway in Sunrise.
Despite broader shifts in office demand nationwide, transactions of this size suggest that investors continue to pursue well-located, institutional-quality office properties in the region.
Source: The Real Deal
Vision Real Estate Advisors Completes Sale Of Boca Office Building For $800 PSF
/in Done Deals, News/by SFOBA STAFFVision Real Estate Advisors’ Managing Directors Elon Gerberg and Adam H. Klein announced the successful closing of the Boca Raton Executive Offices.
Located at the high-visibility corner of Yamato Road and Highway 441 in Boca Raton, Boca Raton Executive Offices, a 11,300-square-foot office building, sold for $5,750,000, or approximately $800 per square foot.
Demonstrating the firm’s brokerage expertise, the deal closed as-is with no inspections in just 30 days.
Palm Beach County Suburban Office Market Heats-Up
/in News, Trends/by SFOBA STAFFDowntown West Palm Beach’s office market is thriving—but rising rents are making it harder for some longtime tenants to keep a foothold in the city core.
The surge is largely fueled by billionaire developer Stephen Ross, whose aggressive investment and development strategy has helped transform downtown West Palm into one of South Florida’s most competitive office markets. His projects have drawn a steady stream of high-profile tenants and helped accelerate the city and county’s long-term growth vision.
That momentum, however, has driven rents sharply higher across downtown, including in buildings Ross does not own. As a result, some established tenants are being priced out and are relocating to suburban areas of Palm Beach County, where new office development is beginning to follow demand.
One notable example is law firm Lytal, Reiter, Smith, Ivey & Fronrath, which last year moved most of its operations from the Northbridge Centre in downtown West Palm—where it had leased space for roughly 40 years—to Palm Beach Gardens. The firm cited renewal proposals that were several times higher than its previous rent, reflecting what some tenants describe as unsustainable downtown pricing.
According to local brokers, asking rents in excess of $100 per square foot are prompting more companies to explore suburban alternatives. That shift is helping spark new office construction outside the urban core.
In Palm Beach Gardens, Gatsby Florida—an affiliate of Gatsby Enterprises—is planning The Modern, an eight-story, 220,000-square-foot office building with a six-story parking garage at 11200 RCA Center Drive. The project, expected to deliver in 2027, is being positioned in part to attract out-of-state firms and executives relocating to South Florida. Gatsby acquired the site for $17.5 million in 2022.
Meanwhile, in Boca Raton, construction is underway on The Aletto, a two-building office campus totaling 140,000 square feet that is already approximately 60 percent pre-leased.
Developers and brokers say these projects reflect growing demand for high-quality suburban office space that offers modern amenities without downtown pricing.
Ross, who launched Related Ross after stepping back from New York-based Related Companies in 2024, has made downtown West Palm the centerpiece of his development focus. His portfolio includes roughly a dozen office buildings in various stages, along with residential, hotel, and mixed-use projects.
By leveraging longstanding relationships—particularly within the financial services sector—Ross quickly filled many of his office properties with out-of-state tenants. More recently, his firm has also pushed to position Palm Beach County as an emerging technology hub.
While downtown West Palm continues to gain national attention, the ripple effects of its success are reshaping the broader county office market—creating new opportunities, but also new challenges, for tenants navigating the region’s rapid growth.