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.
The project will feature 140,000 square feet of premier office, retail, and hospitality space.
Cushman & Wakefield’s Scott O’Donnell, Mike Ciadella, Greg Miller and Miguel Alcivar represented PEBB in the 6400 Building sale.
The tenants will be relocating from other parts of the market, ranging in size from approximately 2,000 to over 6,400 square feet.
The 15,737-square-foot headquarters lease marks Stream Florida’s fifth Boca Raton deal in 2025, totaling approximately 150,000 square feet, with additional transactions anticipated to close by the end of the year.
The property totals roughly 221,700 square feet and includes a four-story parking garage with 669 spaces. About 20 percent of the office space is currently available for lease.
Colliers' Gary A. Gottlieb partnered with Mark M. Rubin, Bastian Schauer, and Ryan Buckner of the South Florida Investment Services Team to represent the seller.
The project is specifically engineered to cater to the discerning tastes of corporate tenants migrating from high-tax, high-cost environments, with a particular focus on companies exiting New York following the recent election of Mayor Mamd ...
CBRE’s Joe Freitas represented the landlord in the lease transaction.
Vacancies stayed in the mid-teens across the board.
