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Altman Inks 10-Year Office Lease

BOCA RATON, FL-Altman Development Corp. will take 12,547 class A sf in the Boca 1515 building here. The company plans to move from within the city early next year. Based on the building's average rental rate, the lease is valued at an estimated $1.88 million triple net.

By Melissa Bogdany | Updated on September 10, 2003

BOCA RATON, FL-Altman Development Corp., a luxury apartment developer and manager, has signed a 12,547-sf lease here. The space is located in the class A building Boca 1515, located at 1515 S. Federal Highway.

Altman Development plans to move from its existing, central city location at 2201 N.W. Corporate Blvd. to Boca 1515 early next year. The company signed a 10-year lease.

Boca 1515 is a 176,000-sf, four-story office building in east Boca Raton, near Mizner Park. The building’s average rental rates are $15 per sf triple net. Based on this average, the Altman Development lease is worth an estimated $1.88 million triple net.

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