Jan 19, 2024

The Boca Raton Innovation Campus announces six new lease agreements


CP Group, Florida’s largest office landlord and a prominent owner-operator of office properties throughout the Sunbelt, announced six new leasing agreements at Boca Raton Innovation Campus (BRiC) — its fast-growing, 1.7-million-square-foot technology and life sciences hub in Boca Raton, Florida.

Designed by Marcel Breuer, the campus was originally built in 1969 for IBM and is home to the invention of the first personal computer. The campus was acquired by CP Group in 2018 with the vision of building off BRiC’s history and evolving the campus into a science and technology hub. An ideal landing spot for companies with large footprints, BRiC is currently home to 18 national headquarters and 19 regional offices, including Kroger, Modernizing Medicine, Canon, and Bluegreen Vacations.

As the state’s largest single-office complex, BRiC has historically attracted companies with large footprints. However, throughout its renovation process, CP Group has pivoted its strategy to attract startups and growing companies seeking modern amenities and a holistic workplace ecosystem in the technology and life science spaces.

Boca Raton Innovation Campus | South Florida Tech HubCP Group’s executed deals include four new tenants and two lease renewals, one with an expansion, all signed during the initial phase of the spec suites’ construction at BRiC. The four incoming tenants are relocating from other office locations within Boca Raton.

  • Engineering Express, a structural engineering firm.
  • Hollywood.com, an entertainment company. CBRE’s Will Morrison represented the tenant.
  • LandAirSea (LAS), a GPS tracking system manufacturer. Posh Realty’s Anthony Villagi represented the tenant.
  • MODE Architects, a full-service architecture and design firm
  • EdgeMed, a revenue cycle management platform for medical organizations, renewed its lease and signed for a new spec suite. Stagman Commercial Realty’s Jason Stagman represented the tenant.
  • Orchid Bay Financial Holdings, an investment firm, renewed its lease and expanded its footprint at the property to a new spec suite.

“LandAirSea is thrilled to be moving into our new home at BRiC. BRiC offers us a combination of amenities, convenience, and comfort that not only makes us excited but impresses our clients and, importantly, our new Florida employees. As we think about enrolling team members in the idea of coming ‘back to work,’ a big part of it is providing a safe, comfortable, and inspiring place for them to collaborate, create, and innovate,” said Greg Jacobson, CEO of LAS. “For us, there was nothing else that even came close to providing this environment, and new hires, vendors, and customers that are touring the facility are telling us we got it right.”

Jeff Kelly of CBRE represented the landlord in all six transactions. The tenants will begin occupying their respective spaces early this year, and construction on additional spec suites will start sometime in 2024.

The spec suites are part of CP Group’s portfolio-wide ‘worCPlaces’ flexible workspace offering. Within the “Spec Places” service offering, CP Group designs customized suites to meet the needs of companies seeking move-in ready, yet scalable, office environments for evolving teams.

Michael Perrette - CP Group

General Manager of CP Group, Michael Perrette

“We are continuing to see an influx of cutting-edge companies flocking to South Florida in search of flexible, yet turnkey, workspaces to meet the needs of their employees,” said Michael Perrette, General Manager for BRiC. “BRiC is meeting this demand and sustaining the property’s legacy of innovation by cultivating state-of-the-art office environments with top-tier amenities that empower our tenants to lead their respective industries.”

The former IBM research and development facility is undergoing a $100 million capital improvement program to transform into an amenity-rich campus. BRiC completed many of these amenities last year, including an on-site wellness center run by Boca Raton Regional Hospital, coffee shop Java, an autonomous grab-and-go store called Bits, a revitalized dining hall, and flex space for events and presentations for up to 1,000 people, two fitness studios; on-site bike storage; and a parking garage with 1,300 spaces and a covered top deck with the flexibility to add solar panels. These renovations awarded BRiC South Florida Business Journal’s 2023 Structure Award for Best Reuse/Rehab Project. Further planned renovations include a new main entrance and porte-cochere with a secondary ring road and a STEAM (science, technology, engineering, art, and mathematics) lab, among others.

Other amenities currently available to BRiC’s office tenants include a fitness center; onsite daycare; outdoor courtyards; running and biking trails; and abundant displays of art as part of its Art on BRiC Walls program, including an NFT exhibit and “Rocket” — a 30-foot-tall, mirrored stainless-steel outdoor sculpture by artist Hubert Phipps.

CP Group also recently received approval from the City of Boca Raton to rezone BRiC for the development of a planned +/- 1,250 residential units; 125,000 square feet of retail, restaurants, grocery stores, and entertainment; a 150-room hotel; a 4,000-seat live concert venue; an accredited daycare and afterschool childcare center; and several parking garages. These rezoning permits allow BRiC to be open to the public seven days a week, and their new event and presentation hall is already slated to host large-scale meetings, galas, student testing, weddings, and even TedXBocaRaton.

BRiC’s mid-century modern aesthetic and superior location between two I-95 exits — adjacent to a Tri-Rail station and proximity to two major airports — offer ideal conditions for the complex to transform into a ‘town center’ integrated into the social fabric of Boca Raton.

Check out the Boca Raton Innovation Campus website here.