Tag : venture capital

By Nikki Cabus

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

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