Bryason plans to break ground in September on the 80,000-sf, six-story 595 Financial Center at a hard construction cost of $20 million or $250 per sf.
The developer is also renovating the adjoining 43,000-sf, 15-year-old Coldwell Building, formerly the Arvida Building, for an estimated $1 million. The projects will offer a total 113,000 sf when completed in 2003.
The Coldwell building is 95% occupied at an average triple-net rent of $16 per sf. The properties are between 555 and 595 South Federal Highway and will overlook the city's Downtown district and the Boca Raton Resort and Golf Course complex.
The 595 Financial Center will have a 361 space covered parking garage.
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