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Insurance Group Pays $169.35 per SF for Build-to-Suit HQ

BOCA RATON, FL-The National Council on Compensation Insurance Holdings Inc. is moving into a $52.5 million, 310,00-sf, three-story office structure jointly developed by Coral Gables, FL-based Codina Group and Orlando-based St. Joe Commercial. Boca Raton is 42 miles north of Miami.

By David R. Corder | Updated on April 17, 2001

BOCA RATON, FL-In a $52.5 million deal, the National Council on Compensation Insurance Holdings Inc. has acquired a customized 310,000-sf office building jointly developed here by Codina Group of Coral Gables, FL and St. Joe Commercial, the Orlando-based development arm of St. Joe Co. of Jacksonville, FL. Boca Raton is 42 miles north of Downtown Miami.

The locally based workers’ compensation-services company paid $169.35 per sf for its three-story, class A corporate headquarters structure. The building was erected on an 18-month, fast-track schedule.

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