Most recently, Max's Grill, one of the park's most popular restaurants, inked an 11-year lease extension for its 5,680 sf. The lease starts in December 2005, when the current lease expires, and runs through 2016.

The per-sf base rent for Mizner space is approximately $50, escalating at 5%, plus $14 for advertising, promotion and other services, according to Root. Restaurants such as long-term tenant Max's, however, are not in the general rental range and runs in the $30s per sf, she says. This would place the value of the Max's Grill lease extension at approximately $2 million-plus.

In another deal in the works, the city of Boca Raton has given necessary approval for Robb & Stucky to lease 80,000 sf formerly occupied by Jacobson's. City officials "were thrilled with the concept," Root tells GlobeSt.com. Robb & Stucky is a Fort Myers, FL-based upscale home-furnishings store. Root says she expects a lease to be signed within 10 days, a few days behind original expectations for a deal. The store is planned to open early next year.