Tag Archive for: derek baker

First Trophy Office Project In 25 Years Breaks Ground In Boca Raton

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Compson Associates, together with Alfredo Aletto, announced the groundbreaking of The Aletto, a landmark Class-A mixed-use office and lifestyle destination set in the heart of Downtown Boca Raton at Sanborn Square.

Representing Compson Associates, Inc., is the Colliers team—Executive Vice Presidents Scott Brenner, Gary A. Gottlieb, Derek Baker, Jonathan Carter, Dave Preston, and Vice President Marc Fechter—who are leading the marketing and leasing efforts for the office and retail portions of the project.

“We are so thrilled to be part of this exciting project and work alongside Carl Klepper and Bobby D’Angelo, who had the vision for this transformative and iconic project,” said Brenner.

Designed to redefine the professional and cultural landscape of the city, The Aletto will feature 140,000 square feet of premier office, retail, and hospitality space, including:

  • Two state-of-the-art office towers offering panoramic views
  • A signature “open to the public” 10th-floor rooftop restaurant with indoor-outdoor dining and skyline vistas
  • Luxury amenities including a private fitness center, steam & sauna, valet parking, and a full-time concierge service

Strategically located steps from Mizner Park, Brightline’s Boca Raton Station, and the city’s thriving dining and retail corridor, The Aletto is poised to become Downtown Boca’s first trophy-class office development in more than 25 years.

The Aletto will feature a brand-new 550-car parking garage seamlessly integrated into the development, offering ample capacity for office tenants, retail patrons, and restaurant guests. Featuring valet service, controlled access, and efficient circulation, the garage is designed to maximize convenience while minimizing traffic impact on surrounding streets. Its strategic layout ensures easy ingress and egress, enhancing overall accessibility to Downtown Boca and supporting the project’s vision of a walkable, vibrant urban destination.

Compson Associates has partnered with NADG to advance and elevate The Aletto, combining deep local expertise with national development capabilities to deliver a best-in-class project. This partnership reflects a shared commitment to creating a transformative destination in Downtown Boca. To support the project’s execution, the development team intends to utilize Bank of the Ozarks for the first mortgage, securing a strong financial foundation that positions The Aletto for timely delivery and long-term success.

The Aletto has secured its rooftop restaurant operator: INK Entertainment Group, North America’s preeminent lifestyle and hospitality company, celebrated for an award-winning portfolio of iconic restaurants, nightclubs, music festivals, and luxury hotel-residences. Established in 1982, INK has shaped dining and entertainment scenes across Toronto, Miami, and beyond, consistently delivering immersive experiences that blend culinary excellence with inspired design. At the Aletto, INK will reimagine its acclaimed Amal concept—a contemporary Lebanese dining experience renowned for its vibrant flavors, shareable mezze, and its ethos of joie de vivre, the “joy of living,” tailoring it exclusively for Boca Raton. This elevated iteration of Amal will offer guests stunning rooftop views, sophisticated ambiance, and a dynamic culinary atmosphere, making it one of Boca Raton’s most coveted dining destinations. The rooftop will also feature an upscale bar and lounge, offering craft cocktails and a curated selection of wines, all set against the backdrop of live music. This immersive experience will create an unparalleled fusion of fine dining and nightlife, where guests can enjoy an evening of vibrant energy, top-tier entertainment, and the best of Boca Raton’s social scene.

INK Entertainment will further enhance the Aletto’s complex culinary appeal by introducing its acclaimed Italian dining concept, Sofia, on the ground floor. Known for its contemporary elegance, Sofia blends authentic Italian cuisine with a modern, art-infused ambiance — the perfect complement to Aletto’s upscale atmosphere. Sofia’s menu highlights seasonal, thoughtfully sourced ingredients and a curated selection of handcrafted cocktails and aperitivos. Guests will enjoy a bottomless brunch with a DJ, an Aperitivo all’Italiana happy hour, and dinner evenings with live entertainment — all combining to offer memorable experiences that redefine traditional dining.

Complementing this offering and creating a powerful dual presence, the opposite space will welcome Gloria’s, sister restaurant of The Warren, a premier bourbon and whiskey destination that celebrates refined indulgence. Far more than just a bar, Gloria’s will feature an extensive, meticulously curated selection of rare and premium bourbons, grand craft cocktails, and a chef-driven menu of steak and seafood all designed to pair perfectly with the spirits. Its warm, upscale atmosphere will blend the richness of Southern charm with cosmopolitan polish, making it an essential gathering place for connoisseurs and newcomers alike in Downtown Boca Raton.

Together, Amal, Sofia and Gloria’s will deliver a multifaceted hospitality experience—uniting exceptional dining, world-class beverage programs, and an immersive cultural vibe—positioning the Aletto complex as a landmark destination for elevated leisure and entertainment.

The Aletto complex has already secured an elite lineup of tenants, setting the tone for a premier business address. Anchored by industry leaders such as Slavic 401(k), NSI Insurance, and Industrious, the building offers a rare combination of prestige, financial strength, and corporate sophistication. With limited space remaining, Aletto offers a unique opportunity for discerning businesses to become part of a community filled with top-tier, financially robust tenants in one of the most dynamic and desirable markets.

Venture X Opens Newest Coworking Space In Boca Raton

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Grover Corlew announced that Venture X, a premier coworking brand, has opened its newest location in South Florida at the reimagined Palmetto Central office campus in Boca Raton.

The 30,000-square-feet Venture X coworking space now occupies the entire top floor of 1489 W. Palmetto Park Road, a building that has been completely renovated. This renovation is part of a broader $60 million investment to transform the two-building Palmetto Central complex. The redesigned top floor features bright, modern interiors with full-height hurricane-impact windows and private balconies. Additional upgrades to the property include fully renovated common areas, a striking tiered water feature at the main entrance, and generous covered parking with EV charging stations.

“Venture X is a perfect fit for the Palmetto Central office campus, and we are thrilled to welcome them to the building,” said Mark Corlew, Partner at Grover Corlew. “We’ve invested significant resources into modernizing this space to offer businesses the best in design, amenities and location. The demand for Class A office space in Boca Raton is high, and Palmetto Central offers an unparalleled opportunity for businesses that are interested in relocating to the area.”

The Boca Raton Venture X location meets the region’s growing need for flexible workspaces, offering an upscale, collaborative environment for entrepreneurs, remote professionals, startups and established businesses alike.

“We are thrilled to bring the Venture X experience to Boca Raton and to be part of the revitalization of this iconic property,” Kevin Priddy, Managing Partner, Venture X. “This new location reflects our commitment to providing top tier coworking spaces that meet the needs of today’s professionals, with a focus on community and collaboration.”

The Palmetto Central complex is ideally located within close proximity to I-95, the Brightline station and upscale shopping and dining . Venture X joins UHealth Boca Raton, a University of Miami Health System clinic, which opened a 17,000-square-foot clinic in the same building in late 2024.

Venture X was represented by Derek Baker of Colliers, while Grover Corlew was represented by Joe Freitas, John Criddle and Max Pawk of CBRE.

 

Coworking Operator Signs 29K SF Lease For Office Space In Boca Raton Amidst Leasing Surge

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As Boca Raton’s leasing surge surpasses other major office hubs, Venture X, the nation’s third largest coworking operator, has signed a long-term top floor lease at Palmetto Central in Boca Raton, encompassing 28,959 square feet.

Colliers’ Executive Vice President Derek Baker represented the tenant in negotiating the deal. CBRE’s Joe Freitas, John Criddle and Max Pawk represented the landlord, Grover Corlew, in the lease negotiations.

“I’m thrilled to have assisted Venture X in securing a premier location for their new flagship site in Boca Raton,” said Baker. “Venture X sought to leverage the flight-to-quality trend for its coworking customers, by focusing on only quality assets and ownership. Grover Corlew’s expansive redevelopment of Palmetto Central aligns perfectly with these goals, creating a best-in-class office experience in Central Boca Raton.”

Palmetto Central, located at 1489 and 1499 W Palmetto Park Road, stands out with its Class A office space in a state-of-the-art redevelopment immediately east off Interstate 95, in Boca Raton’s bustling market. The property’s prime location offers unmatched access to the East Coast, being just minutes away from Downtown Boca Raton, the Glades Corridor and the new Brightline Boca Raton Station.

The property is undergoing an ongoing and phased $30 million renovation which has included significant upgrades to the two building’s façades, lobbies, and common area corridors, all aimed at elevating the asset and tenant mix to the highest quality. The property’s standout features include floor-to-ceiling windows, custom high-quality buildouts, full-height hurricane impact windows, and premium amenities such as a tenant lounge, fitness center, conference facility, and monument building signage opportunities.

“With the high demand for modern office space in downtown Boca Raton, Palmetto Central stands out in terms of quality and location,” said Mark Corlew, Partner at Grover Corlew. “We’re excited to welcome Venture X, which will thrive thanks to the distinctive upgrades that have brought this property to its full potential.”

Grover Corlew is a real estate investment management group and developer of multifamily and office properties with a proven track record of over 100 years of combined industry experience in acquiring, transforming, and managing a diverse range of assets, including office, multifamily, and retail properties, throughout the southeastern U.S., with a focus on Florida. The firm has developed, owned, and managed over 10,000 units and more than 10 million sq. ft. of commercial space, specializing in investor and tenant relationships and projects that revitalize and stimulate local communities.

Kevin Priddy, the Venture X franchise owner, expressed excitement about Venture X’s expansion into Boca Raton, stating, “Opening a Venture X in Boca Raton is a thrilling milestone for us, it is the perfect market for our brand, with its dynamic business community and thriving entrepreneurial spirit. We are excited to provide a modern and collaborative workspace that caters to professionals, entrepreneurs, and small businesses, offering them the ideal environment to innovate, network, and grow.”

In the second quarter of 2024, the Boca Raton office market emerged as a prime destination for office tenants, leading leasing activity in Palm Beach County. Leasing across the Boca Raton East, West, and North submarkets surpassed 250,000 sq. ft., accounting for 38% of all Palm Beach County leasing during the quarter. This robust activity can be attributed to the highly educated workforce spurred by local institutions such as Florida Atlantic University, Lynn University and Palm Beach State College. Additionally, the new Boca Raton Brightline Station has improved connectivity, enabling companies to access talent from the broader South Florida region. With this advantageous convergence of factors, the outlook for the Boca Raton office market remains positive as we enter the second half of 2024.

 

Telecom Service Provider Relocates, Inks 40K-SF Lease In West Palm Beach

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Dycom Industries has signed a 40,000-square-foot lease to move its headquarters to the 300 Banyan office project in Downtown West Palm Beach.

The top two stories of the 12-story building will be occupied by Dycom, a company that contracts with telecom companies, according to developers Wheelock Street Capital and Brand Atlantic Real Estate Partners. The asking rent is $110 per square foot.

Situated at 300 Banyan Boulevard, the project will have six stories with about 120,000 square feet of leasable office space and three levels of parking.

Dycom Industries will relocate its headquarters from Palm Beach Gardens. Its new lease brings 300 Banyan to 50 percent pre-leased.

Wheelock Street Capital and Brand Atlantic Real Estate Partners obtained a $87 million construction loan from Acore Capital in 2022. The project is expected to be completed in April.

Derek Baker of Colliers represented the tenant, while Brian Gale and Anthony Librizzi of Cushman & Wakefield represented the landlord.

The 300 Banyan office building is part of the larger Banyan & Olive mixed-use development, which also features a historic building at 111 North Olive Avenue. Over two years ago, the joint venture completed a gut renovation of the three-story building, designed by famed architect John Volk, which now functions as a mixed-use property.

 

Source:  Commercial Observer

Cushman & Wakefield Arranges 12,000-SF Office Lease For Largest Privately-Owned Global Coworking Franchisor

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Cushman & Wakefield has arranged a new long-term lease totaling 12,149 square feet for Office Evolution and Venture X at the District Pointe office building in West Palm Beach.

Office Evolution and Venture X will lease the fifth floor and create a superior coworking space that offers a community of entrepreneurs, established businesses, and startups a flexible workspace and opportunities for professional collaborations.

Anthony Librizzi and Tara England of Cushman & Wakefield represented the landlord, District Pointe, LLC, in the lease negotiations. Derek Baker of Colliers represented the tenant.

“This transaction reflects the on-going trend of flexible office providers growing at a break-neck pace here in South Florida,” said Librizzi, Managing Director at Cushman & Wakefield. “The offerings provided by these flex space operators are meeting the demands of many small and start-up companies here in South Florida. And District Pointe, with its complete renovation of the interior and exterior of the building, is attracting significant interest from a number of industries in our market.”

Owner District Pointe, LLC is a joint venture between Verdex Construction and Index Investment Group that was formed to purchase the property in November 2021. As part of the acquisition, the building was rebranded as District Pointe and Verdex Construction announced plans to occupy a floor for their new U.S. headquarters.

“We welcome Office Evolution and Venture X to this building, that will be part of a larger redevelopment occurring around Centrepark Boulevard and Belvedere Road to create a great environment for live-work-play with additional apartments, restaurants, retail, and sports facilities being built,” added Bjarne Borg, CEO of Index Investment Group.

District Pointe is located at 1501 Belvedere Rd. and sits directly across from Palm Beach International Airport. Recently made available for multi-tenant use, the office building allows tenants to benefit from close proximity to the airport and Interstate 95 as well as the amenities offered at the Warehouse District. The office building will soon offer additional amenities including a structured parking garage, on-site restaurant, and pickle and Padel ball courts as part of a massive interior/exterior renovation project currently underway.

 

Office Complex In WPB Sells For $29.25 Million

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CBRE has facilitated the $29.25 million sale of the fee simple interest in The Forum, two 10-story office buildings totaling 185,650 square feet in West Palm Beach, to The David Associates on behalf of Triarch Capital Group.

The sellers were exclusively represented by Christian Lee and Marcos Minaya with CBRE Capital Markets.

Located at 1655 and 1665 Palm Beach Lakes Boulevard, The Forum is 90 percent leased to 40 tenants from a variety of industries including healthcare, law, finance and engineering.

“The future of the office market in West Palm Beach is extremely promising. An influx of new-to-market tenants have contributed to a leasing velocity never seen in this market before, which has put tremendous upward pressure on both occupancy and rents,” said Minaya, a vice president with CBRE.

“The Forum is exceptionally well located with excellent connectivity to Interstate 95 and access to the city’s major transportation hubs. Tenants are within walking distance to a host of amenities, including an adjacent Hilton Garden Inn as well as the Palm Beach Outlets, anchored by Whole Foods Market and several brand name restaurants. Additionally, the property offers the highest covered parking ratio among its peers,” added Lee, a vice chairman with CBRE.

The CBRE Capital Markets team also included Senior Vice President Amy Julian with CBRE’s Debt & Structured Finance and Financial Analyst Tom Rappa. The property is leased by Colliers International’s Derek Baker and Jonathan Kingsley, who also helped with the marketing efforts.