Boca Executive Center, a full-service executive suite, is taking 19,393 sf for 10 years. Rents in the building are quoted at $16 per sf triple net, and estimated operating expenses are $8.03 per sf net of non-HVAC electric. This makes the lease worth an estimated $3.1 million triple net.
In addition, GMAC Commercial Holdings Capital Corp., a mortgage lender that specializes in apartment buildings, is taking 1,088 sf in the building.
The 128,000-sf, four-story, class A office building is located at the intersection of Glades Road and Federal Highway. The building has a café, concierge services, onsite security and covered parking.
Owen Sagar, a senior associate with Trammell Crow Co., represented the property owner, Principal Office Investors, in these transactions.
These latest deals bring 1200 Corporate Place to 80% occupied. Other tenants that have recently renewed or expanded their leases at 1200 Corporate Place include Blank Rome, JP Morgan Chase, Volkswagen of America, Perr & Knight and Tara Louisiana. Currently, suites ranging from 1,000 sf to 10,756 sf are available.
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