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Pembroke Pines Office Property Trades, More Than Triples In Value

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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.

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

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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.”

Palm Beach County Suburban Office Market Heats-Up

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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.

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.

PEBB Enterprises Closes Office Property Sale In Fort Lauderdale’s Cypress Creek

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PEBB Enterprises completed the disposition of the 6400 Building in Fort Lauderdale’s Cypress Creek neighborhood.

The $11.93 million transaction closed on Dec. 17.

JS Florida Ventures, LLC and HS Florida Ventures, LLC purchased the 55,241-square-foot office building at 6400 N. Andrews Ave. The building is 89% leased and is situated adjacent to a Marriott hotel and in close proximity to I-95.

Cypress Creek is a highly desirable office submarket due to its central location, connectivity to major highways and critical mass of retail and dining.

“This sale concludes a successful long-term investment for our company, as we owned the asset for more than 20 years,” PEBB CEO Ian Weiner said. “We are actively pursuing several new office acquisition opportunities in South Florida, and this was the right time to execute the 6400 Building disposition. PEBB remains bullish about the region’s office market and continues to target opportunities aligned with its long-term strategy of acquiring well-located commercial assets with repositioning and/or redevelopment potential.”

Cushman & Wakefield’s Scott O’Donnell, Mike Ciadella, Greg Miller and Miguel Alcivar represented PEBB in the 6400 Building sale.

PEBB’s portfolio of office assets includes, among others, The Eclipse (formerly known as the Office Depot headquarters), in partnership with BH Group, and the Research Park at FAU, in partnership with Banyan Development. Those properties are representative of several office assets that the company owns in its home base of Boca Raton and throughout South Florida.

JLL Arranges 20,000 SF Of New Leases At Boca Raton Office Tower

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JLL announced the completion of four new office leases at Peninsula Plaza located on North Federal Highway in East Boca Raton.

Situated at 2424 North Federal Highway, the four-story, 163,640-square-foot trophy office property will welcome the relocating tenants from other parts of the market, ranging in size from approximately 2,000 to over 6,400 square feet.

JLL Executive Vice President Brady Titcomb represented the building’s ownership, CDS Realty Investments, LLC, whose dedication to enhancing the tenant experience has helped drive demand and propel significant leasing activity.

“Peninsula Plaza continues to attract top-tier tenants because it delivers what today’s companies value most including modern amenities, tenant-ready spec suites, efficient space configurations, and a highly desirable location,” said Titcomb. “The building’s sun-drenched atrium, upgraded common areas, modern conference and fitness facilities, coupled with unique suite features like Intracoastal views and private terraces, have made the property one of the most desirable options in the market. These latest leases underscore the strength of tenant demand in Palm Beach County and the appeal of thoughtfully designed, well-maintained office environments.”

Among the new additions to Peninsula Plaza’s distinguished roster of tenants are:

  • Poliakoff Backer, a South Florida-based law firm providing quality customized representation for community associations of all sizes, will be taking 5,431 square feet of space on the fourth floor. Poliakoff Backer was represented by CBRE’s John Jaspert.

 

  • Family First Life, a nationally licensed insurance marketing organization (IMO) and brokerage, will occupy 6,460 square feet on the second floor. Family First Life was represented by George Casey of Total Real Estate Consultants, Inc.

 

  • Echelon Financial, LLC, an independent Austin-based registered investment advisory firm, will be taking 5,388 square feet on the third floor. Echelon Financial LLC was represented by Jason Stagman of Stagman Commercial Real Estate Advisors.

 

  • A local boutique insurance brokerage specializing in group health insurance, working with small and large group organizations, will occupy 1,931 square feet on the fourth floor. Silvana Benitez with LRM Commercial Real Estate Advisors represented the insurance brokerage.

Ideally situated between Yamato Road and Glades Road, Peninsula Plaza offers immediate access to Interstate 95 and is just minutes from Mizner Park, Boca Town Center, and Boca Executive Airport. The location provides abundant conveniences, with a wide selection of nearby dining options, including Chipotle, Subway, Blaze Pizza, and others, as well as multiple banking institutions along Federal Highway.

The property also backs up to an expansive jogging path with scenic water views, and select suites offer their own Intracoastal vistas and private terraces. Remaining spaces available range from 2,000 square feet to more than 11,500 square feet, providing flexible options for tenants of all sizes.

According to JLL’s latest office insight report for Palm Beach County, the office market posted one of its strongest quarters in years, with absorption turning positive across both North and South County and vacancy declining market-wide. Leasing activity surged to roughly 900,000 square feet while new deliveries saw rapid uptake, underscoring sustained demand for high-quality space, the report shows. Nearly 1.2 million square feet remains under construction, all concentrated in Downtown, yet robust tenant interest continues to support tightening fundamentals.