Tag Archive for: 7000-7700 w camino real

Colliers Awarded Exclusive Leasing Assignment For Boca Mixed-Use Campus

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Colliers has been awarded the exclusive leasing assignment for Fountains Center at Camino Real, a 189,542-square-foot mixed-use office, medical, and retail campus located at 7000-7700 W. Camino Real in Boca Raton.

The assignment follows Interface Properties‘ recent acquisition of the seven-building asset. This Boca Raton-based real estate investment firm plans to undertake a multimillion-dollar capital improvement program to enhance the campus and tenant experience. Colliers Executive Vice President Gary Gottlieb, Senior Vice President Darcie Lunsford and Client Services Specialist Cara Girardi will lead leasing and marketing efforts on behalf of the new ownership.

“Fountains Center represents a unique opportunity in one of South Florida’s most established and highly sought-after business corridors,” said Lunsford. “Backed by Interface Properties’ commitment to reinvesting in the asset, the property benefits from a strong tenant base, a highly accessible location and a longstanding presence in the Boca Raton community. We look forward to partnering with ownership to build on that foundation and help drive the property’s next phase of growth.”

Planned improvements include façade enhancements, landscaping upgrades, and restoration of the plaza’s signature fountains. Fountains Center also offers future expansion potential through an approved 21,000-square-foot office building.

“We are making significant improvements to Fountains Center, and we are excited to combine those efforts with Colliers’ leasing team,” said Zac Goodman, Managing Partner of Interface Properties Group. “Gary, Darcie and Cara have a track record leasing office and medical space in Boca Raton, and they understand what tenants in this market need. Together, we will create value for everyone connected to this property, including our existing tenants, the businesses that join them and the residents of the surrounding neighborhoods.”

Situated on approximately 15 acres at the intersection of Powerline Road and West Camino Real, Fountains Center is approximately 95% leased. It serves a diverse mix of office, medical, retail, and service-oriented tenants. Notable occupiers include Citibank, Truist, University of Miami Miller School of Medicine and Salt Academy, while medical users account for more than half of the campus’s tenancy.

Positioned along one of Boca Raton’s primary commercial corridors, Fountains Center offers abundant parking, drive-thru banking and convenient access to Interstate 95 and Florida’s Turnpike. Located minutes from Town Center at Boca Raton, Florida Atlantic University, Downtown Boca Raton, and Boca Raton Airport, the campus is surrounded by established residential communities, major employment centers, and lifestyle amenities, making it an attractive destination for office, medical, and retail users seeking a highly visible, accessible location.

Interface Properties Acquires 15-Acre Mixed-Use Office, Medical Campus In Boca

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Interface Properties, a Boca Raton-based real estate investment firm specializing in the acquisition, redevelopment and repositioning of value-add properties, has acquired Fountains Center, a 189,542-square-foot mixed-use office, medical and retail campus located at the intersection of Powerline Road and W. Camino Real in Boca Raton.

The seven-building property has served Boca Raton businesses, healthcare providers and residents for decades and today is 95% leased to a diverse mix of banking, medical, retail and professional services tenants. The campus also includes excess land approved for the future development of a 21,000-square-foot office building.

Interface intends to initiate a multimillion-dollar capital improvement program designed to modernize the property and enhance the tenant experience, including façade and landscaping enhancements and restoration of the property’s signature fountains.

“Fountains Center embodies the type of opportunity we look for as investors,” said Zac Goodman, Managing Partner of Interface Properties. “It combines strong in-place cash flow, meaningful redevelopment potential and an attractive basis in one of South Florida’s strongest real estate markets. Just as importantly, it’s a property with deep roots in the community and a longstanding roster of tenants who serve Boca Raton residents every day. We see an opportunity to build on that foundation through active ownership, thoughtful reinvestment and a long-term commitment to the asset.”

 

Added Ken Goodman, Founding Partner of Interface Properties, “As a Boca Raton-based company, we’re especially excited to invest in a property in our own backyard. Fountains Center has been an important part of the local business community for decades, and our goal is to be responsible stewards of that legacy while enhancing the experience for tenants, visitors and the surrounding community. We believe the property’s best days are still ahead.”

Nelson Garcia of RARE CRE represented the seller in the acquisition. Michael Basinski and Mitch Sinberg of Berkadia Boca Raton arranged a $31.75 million acquisition loan through City National Bank.

Located at 7000–7700 W. Camino Real, Fountains Center was built between 1980 and 1990, and features direct frontage along Powerline Road, one of Boca Raton’s primary north-south corridors. Seven buildings serve a mix of office, medical, retail, and service-oriented tenants with on-site amenities like abundant parking and drive-thru banking. Current tenants include Citi Bank, Truist Bank, University of Miami Miller School of Medicine, Salt Academy, Traditions South and numerous independent healthcare providers. Approximately 54% of the property is leased to medical office users, many of whom have served Boca Raton residents for years.

Situated in one of South Florida’s most affluent residential communities, the property is just five minutes from the Florida Turnpike and I-95, and a short 10 minute drive to Town Center at Boca Raton, Florida Atlantic University, Downtown Boca Raton, and Boca Raton Airport, and just minutes from the Boca Raton Synagogue, four golf and country clubs, and a dense concentration of executive and luxury housing.

Over the past three decades, Interface has built its business around identifying well-located properties where hands-on management, capital investment and long-term ownership creates lasting value. Past acquisitions in Palm Beach County include the Haverhill Business Park in Riviera Beach, El Clair Medical Center in Boynton Beach, and Burma Commerce Park in Palm Beach Gardens. In 2020, Interface entered the multifamily sector with the acquisition of two sites in Boca Raton which it redeveloped into student housing – The Yard University Apartments I and II. Interface also owns and operates affordable and market rate apartment communities in Tampa, Fort Myers and Naples.