Proskauer Rose will occupy one-eighth of the 277,000-square-foot building at 2255 Glades Road. Besides allowing sufficient room for future growth, firm leaders say the new lease signals its commitment to remaining in Boca Raton.
"We are proud of our over 30-year history in South Florida, the work we have performed for our clients and the deep ties we have forged in the community," says Al Gortz, a partner in Proskauer Rose who opened the local office in 1977. One Boca Place opened in 1986.
Details of the new lease weren't immediately available, but asking rents at One Boca Place are currently listed at $24 per square foot. Office rents in the Boca Raton office market currently average $19 per square foot, with a vacancy rate of nearly 30%, according to CB Richard Ellis research.
Stuart Eisenkraft and Paul Marko of CBRE represented Proskauer Rose in negotiating the new lease. Mike Wilson of Grubb & Ellis represented is the leasing agent for One Boca Place.
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