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New Two-Building Office Complex 25% Pre-Leased

BOCA RATON, FL-Two three-story, 75,000-sf office buildings are breaking ground just after Labor Day within the 850-acre Arvida Park of Commerce off Broken Sound Parkway. One of the buildings is already at least half committed to a tech tenant.

By Harold Kelman | Updated on September 01, 2000

NetSpeak Corp., a communications software developer, has taken a 10-year lease on a minimum of 35,000 sf headquarters space in one of two office buildings going into the ground at Broken Sound Plaza, a new three-story, 75,000 building at the 850-acre Arvida Park of Commerce off Broken Sound Parkway in Boca Raton.

Class A office space in Boca Raton rents for an average $27.67 psf, which would bring the value of this commitment to nearly $9.7 million. The tenant could take another 15,000 sf by the time it moves in next spring, Jeff Kelly, first vice president and managing director at the CB Richard Ellis branch in Boca Raton, tells GlobeSt.com.

NetSpeak currently occupies space in three different buildings less than a mile away at Congress Corporate Plaza and required additional footage but none was available at that location.

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