South Florida Tech HubSouth Florida Tech Hub
05
Feb, 2023

By Nikki Cabus

CP Group announces 17,786 sf of new flexible office suites in Boca Raton, includes a leading VC firm

Read Time 4 Minutes

CP Group, the largest office landlord in Florida and prominent owner-operator of office properties throughout the Sunbelt, today announced five new leasing agreements at Two Town Center — a 145,344-square-foot, 11-floor Class A office tower in Boca Raton, FL.

This leasing momentum includes five new tenants which will occupy 17,786 sf of newly constructed flexible office suites developed at the building as part of CP Group’s flexible workspace offering, worCPlaces.

The new tenants include:

  • Related Fund Management, a national real estate and credit investment management firm.
  • RRE Ventures, a leading venture capital firm represented by John Criddle with CBRE.
  • BMO Harris Bank, a national investment banking company represented by Bob Schneiderman of Colliers of Florida.
  • Cordoba Legal Group, a Boca Raton-based law firm represented by Mark Rubin and Jake Stauber of Colliers of Florida.
  • The Praedium Group, a real estate investment firm focused on middle-market, underperforming, and undervalued assets. They were represented by Richard Shay Coker of Douglas Elliman.

One notable new tenant is RRE Ventures, an early-stage venture capital firm headquartered in New York City focused on investing in tech enabled ventures.

Harvard Business School classmates, Stuart Ellman and James D. Robinson IV, founded RRE Ventures in 1994 with Robinson’s father, James D. Robinson III, former Chairman and CEO of American Express Company from 1977 to 1993.

RRE Ventures primarily invests in seed, series A and series B rounds and focuses on companies operating in the software, internet, communications, aerospace, robotics, 3D printing and financial services sectors.

According to General Partner, Jason Black, in a September 2022 RRE blog post, “RRE Ventures has been a leading venture capital firm in New York with nearly $2.5B under management and +400 portfolio companies. With over 25 IPOs and dozens of trade sales through the years, there is a lot going on at any given time.”

“Recent well-known companies include Datadog, Venmo, Braintree, DCG, Noom, Kindbody, Spring Health, Olo, and BuzzFeed, among many other category-defining businesses. We pride ourselves not only on investing in great entrepreneurs and delivering stellar returns to our LPs but also on being supportive partners to our portfolio companies and active members of the venture community.”

Since it’s inception, RRE Ventures has been seeking out and partnering with extraordinary entrepreneurs who seek to disrupt and transform industries using technology. The company has often been on the forefront of new innovations and industry-leading investments such as their first crypto investment in 2013.

Although RRE invest across the United States and in select overseas geographies, they view New York’s burgeoning innovation economy as critically important to the creation of the next wave of large technology companies. They have been one of New York Metro regions most active investors. Now, they are bringing their expertise, connections, and funding to South Florida.

South Florida, specifically Boca Raton, has been one of the most sought out areas in the region for new office space for investors, real estate and law firms, and finance companies. The CP Group is already underway on construction of another full floor of spec suites, which will deliver six more suites ranging from 1,714 to 3,212 square feet. Construction is expected to be completed by summer 2023.

“This leasing momentum is proof of the high demand for next-generation, flexible work environments in today’s office market,” said John Osborne, Senior Vice President at CP Group.

“We’re proud to bring worCPlaces to the Boca Raton market to meet the changing needs of premier tenants like these and look forward to offering them first class amenities on and off-site, including the nearly completing Restaurant Row adjacent to the building.”

Restaurant Row, Boca Raton’s first ever restaurant-driven complex initially designed by CP Group and later sold to PEBB Enterprises, sits directly in front of Two Town Center, and is expected to open this year. The four-restaurant complex will include El Camino, Pubbelly Sushi, Fiolina Pasta House, and Shabibi, a Lebanese-inspired eatery from chef and “Hell’s Kitchen” runner-up Ralph Pagano.

Two Town Center is one of the market’s tallest buildings and offers sweeping views of Boca Raton. It boasts a newly renovated lobby and common areas, along with floor-to-ceiling windows, a full-time Tenant Services Coordinator, an incoming café, and covered parking. The building is also WELL Health-Safety Rated.

The property’s prime location in Boca Raton offers tenants immediate access to I-95 and the city’s business corridor. Adjacent to the renowned Town Center Mall, Glades Plaza, Boca Center, and incoming Restaurant Row, the property is within walking distance to dozens of restaurants, hotels, and boutiques.

To learn more about the property, visit twotowncenterboca.com

, , , , , ,
09
Oct, 2022

By Nikki Cabus

2 tech companies join Boca Raton Innovation Campus including autonomous vehicles

Read Time 2 Minutes

The Boca Raton Innovation Campus, or “BRIC.” is welcoming two tech companies to it’s list of technology and life science tenants” autonomous vehicle startup, Guidant Corp., and cybersecurity firm, Arete.

Guident Corp developed patented software solutions utilizing artificial intelligence technologies for making autonomous vehicles safer and in turn increasing overall adoption. Harald Braun, Chairman and CEO of Guidant, brings decades of experience with him including formerly the President and CEO at Nokia Siemens North America and being recognized as one of America’s “Top 100 Voices of the IP Communications Industry” by Internet Telephony magazine. Additionally, Guidant’s board of directors includes a team of experts from companies such as Aviat Networks, Audi, Ford, General Motors, Volkswagen and ZipCar.

The startup will relocate from Florida Atlantic University’s Tech Runway where they won the annual Launch Competition in 2020. FAU Tech Runway® is a public-private partnership formed to incubate and accelerate early-stage technology-based companies, under the purview of FAU’s Division of Research.  The incubator/accelerator provides the most promising startups and talented entrepreneurs in South Florida with an opportunity to join a year-long program that offers competition winners “best-in-class” instruction, mentoring, networking, marketing, capital-raising assistance, co-working space, events, intern support and other vital programs.

A panel of judges, including successful entrepreneurs, technology investors, entrepreneurship professors, economic development professionals, philanthropists, and commercial bankers selected Guident Ltd. as the winner of the competition. The judges were convinced that the company creating a Remote Monitoring and Control Center in Florida for autonomous vehicles (AVs) applying artificial intelligence, and their first use-case for ‘zero-touch’ ground-based delivery of groceries and medicines, would be the right choice to create significant value in South Florida and nationwide.

The Boca Raton Innovation Campus is the home of the first IBM personal computer and research hub. It’s the largest single facility office building in the state at 1.7 million square feet, 123 acres and includes the country’s longest hallway at a length of 907 feet long. ‘CP Group, formerly Crocker Partners, acquired BRiC in 2018 with the vision of building off its innovative past and evolve the campus, through a multimillion dollar renovation project, into the premier technology and life sciences hub in the Southeast’ competing with Silicon Valley and bring more technology companies to South Florida. The campus is currently home to some big name tech and life science companies such as ModMed, Canon, Bluegreen Vacations and Baptist Health South Florida.

, , , , , , ,
15
Mar, 2022

By Riley Kaminer

Member Spotlight | Boca Raton Innovation Campus

Read Time 3 Minutes

Business: Provides office space and fosters a community among innovators in the South Florida tech ecosystem

Launched: Originally built in the 1960s, upgraded in 2005 and 2018

Location: Boca Raton

Size: 1.7 million square-foot campus situated on 123 acres; 36 tenants with a cumulative 6,000 employees

Website: WorkAtBRiC.com

Innovation rarely happens in isolation. Collaboration is key – bringing together people with different backgrounds, perspectives, and expertise to catalyze and crystalize the next big idea.

The Boca Raton Innovation Campus (BRiC) aims to be the nexus for collaboration in South Florida and beyond. The office park is known for its iconic modernist style, designed by world-renowned Bauhaus architect Marcel Breuer. 

The facilities were originally built for IBM, and it was on this site in 1981 that the world’s first personal computer was invented. Now it houses a wide range of South Florida’s most innovative firms, from local healthtech success story Modernizing Medicine to photography pioneer Canon.

Giana Pacinelli, Marketing Director for CP Group, the landlord and property management team for BRiC, explained their goal of “taking BRiC’s history and bringing it to the future.” She said that CP Group aims to harness the campus’s storied past as a space for innovation while also providing the amenities that will impress even the most discerning tenants.

Pacinelli noted BRiC’s “Google-style” facilities, including a lush campus with seven miles of walking paths and amenities like a dining hall that converts into a 1,000-person capacity presentation hall, two coffee shops, and a recently-renovated fitness center. Soon, they plan to open an autonomous grab-and-go store that will enable workers to purchase staples like bread and produce through a completely contactless system.

Currently, BRiC is zoned strictly for commercial office use. However, Pacinelli explained that they are now working with the city to rezone the campus to make it a “true live-work-play ecosystem.” The vision is to create a 15-minute city that residents can walk around and access everything they need – from work and living spaces to medical facilities and restaurants.

“In order to do all of that, we need to rezone BRiC,” said Pacinelli, underscoring the property’s interest in attracting big businesses and international meetings.

CP Group has put together a campaign to connect with the community. By visiting WorkAtBRiC.com/Support, Boca Raton residents can sign a letter to show their support for BRiC’s plans. Through this link, neighbors can also schedule a tour of the campus.

While work for home became a daily reality for many South Floridians during the pandemic, Pacinelli said that CP Group is “bullish that people will return to the office.” She evidenced the recent uptick in employees returning to the office as a signal that trend of workers returning to the office will continue

“Work has successfully invaded our personal lives,” she explained, noting that heading to an office can help create much-needed barriers between work and personal lives. Many of BRiC’s tenants have refreshed their workspaces to include more spaces for collaboration. BRiC also has imminent plans to unveil a co-working space later this year.

, ,
06
May, 2019

By Nancy Dahlberg

Member Spotlight | BRIC

Read Time 4 Minutes

What is BRIC? Boca Raton Innovation Campus, on the former site of IBM

Developer: Crocker Partners LLC, a Boca Raton-based real estate company

Website: workatbric.com (check out the events page)

Address: 4920 Conference Way North, Boca Raton

Home to: 36 companies and organizations so far, and counting

Coming soon: $28 million renovation of Amenity Corridor

In the ‘70s and ‘80s, IBM’s research & development campus in Boca Raton bustled with innovation.

The huge office building housed several firsts, most notably as the place where the world first personal computer was invented by Philip “Don” Estridge and his IBM team and introduced to the world in 1981.

It was also home to the first smartphone, Simon, and it was said to be the place where Bill Gates made his notorious licensing deal, licensing his operating system to IBM instead of selling it to them so he could license it to others and become Microsoft. The building itself, featuring a Y-shaped design by architect Marcel Breuer, was considered an engineering marvel for its day when it opened in 1970 and was designed to withstand a Cat-5.

That’s what made the purchase of the office complex in 2018 so special, said Giana Pacinelli, marketing director of Crocker Partners, a commercial real estate company headquartered in Boca Raton. Last April, Crocker purchased the 1.7 million square foot property, which had been expanded over the years and had changed hands a couple of times since IBM sold the property in 1996. It’s now called BRIC, the Boca Raton Innovation Campus.

Crocker has big plans for BRIC as it welcomes today’s new wave of technology innovators.

“Our goal is to take that past and bring it into the future so the campus continues to be a place where innovation happens,” said Pacinelli, adding that the giant office park is now home to 36 companies and organizations, including corporate and regional headquarters.

“We want to make it a destination, not just for the organizations that work on the campus but a destination for the entire community to enjoy, which is why we are partnering with Palm Beach Tech. We are hosting a lot of programming on campus. We have a program board of 11 community leaders that helps us put together programs. We partner with TedX Boca Raton to do speaking events on campus.”

Over the next year or so, BRIC’s Amenity Corridor will undergo a $28 million renovation. The renovated section will  include a STEAM Lab equipped with 3D printers, laser cutters and other equipment. Tenants can rent it out and BRIC will also house programming there for local organizations and schools. Hungry? There will be a food hall with seven  restaurants open to the public and a 1,200-seat dining hall that can also serve as a presentation hall. Also planned is a wellness center with an onsite nurse, two coffee shops and a co-working space. “It’s exciting times for us,” Pacinelli said.

Already, there are inviting outdoor spaces to work or relax, with miles of walking and bike paths, a conference center that can seat up to 400 where events are now held and a fitness center tenants can use. With the renovation will come special studios for yoga, pilates and the like.

Health-tech company Modernizing Medicine relocated its headquarters – and its more than 800 employees – to BRIC in January. BRIC is also home to MobileHelp, MDVIP, Transunion, BlueGreen Vacations and Shoes for Crews, among others. “We are the largest single office facility in the state. … We’ve been moving very quickly,” said Pacinelli.

 “Boca Raton has been Crocker’s home for years. We helped build Mizner Park and Crocker Center – we’ve been around for over 35 years. We want to make this a special place where we can bring technology companies and jobs and really just revitalize the area. The property, when IBM housed it,  was a very closed off, very secretive space, but now we want to open it up to the community.”

,

LATEST POSTS

SUBSCRIBE







CP Group announces 17,786 sf of new flexible office suites in Boca Raton, includes a leading VC firm
2 tech companies join Boca Raton Innovation Campus including autonomous vehicles
Member Spotlight | Boca Raton Innovation Campus
Member Spotlight | BRIC