C&W Closes Boca Raton Innovation Campus Lease

John Criddle and Joseph Freitas worked on behalf of the sublandlord in the lease negotiations, while Michael Feuerman of Berger Commercial represented the tenant.

Boca Raton Innovation Campus
Boca Raton Innovation Campus

Cushman & Wakefield negotiated a 23,630-square-foot sublease with Integrated Dermatology Group at Boca Raton Innovation Campus. The seven-building property encompasses 1.7 million square feet in Boca Raton, Fla.

The tenant will occupy space within a 72,047-square-foot office building located at 4700 Exchange Court. The property features an executive wing, five executive offices, an executive lounge with restroom, a 14-person executive conference room, 14 staff offices, 84 cubes, a break room and storage. IDG owns, manages and operates dermatology practices throughout the U.S. Earlier this year, Safety footwear brand Shoes For Crews signed a lease agreement to relocate to a new office within Boca Raton Innovation Campus. 

Plug-and-play environment

IBM developed the campus as its North America Research and Development Facility in 1970. Amenities at the office park include a fitness center, 250-seat conference center, on-site licensed daycare, 24-hour security, dining and banking, on-site retail, Tri-Rail shuttle and triple-redundant fiber synchronous optical networking. According to Yardi Matrix, Next Tier HD acquired the asset for $128.7 million in January 2015.

The team of Managing Director John Criddle and Senior Associate Joseph Freitas represented the sublandlord, while Managing Director Michael Feuerman of Berger Commercial negotiated the lease on behalf of IDG.

“The BRIC space offered IDG a plug-and-play environment with state-of-the-art finishes in one of Florida’s iconic office parks,” said Criddle, in a prepared statement. “The space was move-in ready, necessitating very little in the way of downtime and transitional costs for IDG.”

Situated on a 123-acre site, Boca Raton Innovation Campus provides easy access to the city, as well as exposure along Interstate 95. The central location of the complex in Palm Beach County is accessible from all locations in the South Florida market.

Image courtesy of Yardi Matrix