Boca’s Economic Development Report

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By: Jessica Del Vecchio Economic Development Manager Special to the Boca and Delray newspapers

Business Briefs:

After being on Wall Street for 50 years, the financial services firm Stoever Glass selected Boca Raton for its first expansion location.

Occupying 49,534-square-feet of space, the MobileHelp team officially moved into its new headquarters at the Boca Raton Innovation Campus (BRIC). The company currently has 200 employees and announced plans to hire over 100 more.

The 102,309-square-foot Wells Fargo Plaza at Camino and Federal sold for $34.6 million. The two-building property sale equates to $338 per square foot. The property last traded in 2015 for $23.1 million.

In just eight short years, Boca based Orangetheory Fitness exceeded $1B in systemwide revenues for 2018.

Two Boca office buildings recently sold for $68.35M. The 382,595-square-foot buildings are located at 5201 Congress Ave. and 901 W. Yamato Road, also known as North 40. Situated on a 27.1-acre site, the sale equated to $194 per square foot.

FAU Research in action:

The Downtown Boca Raton Public Library partnered with FAU’s Division of Research to offer a free series of events.  The first series was kicked-off last month and the topics were impressive. Students and faculty discussed research projects ranging anywhere from cancer identification technology, improving air quality with “fake” leaves, artificial intelligence literacy, limb prosthetic technology, augmented reality and drone capabilities.

We recently sat down with Japan’s oldest and largest English-language daily newspaper, the Japan Times. With a reach of top business executives – Japanese and expatriates – in and outside of the Japan, in over 100 countries we were excited to share some insight into Boca’s thriving corporate community.

Beautification update – Park at Broken Sound

Our Office spends a lot of time visiting companies headquartered in The Park at Broken Sound.  This beautiful, 700 acre planned mobility commercial and residential hub will be having its streets repaved.  The roadway upgrade is the result of the ongoing success of the Park and our great working partnership with them and the property owners.

The project will start on the East side of the Park (Park of Commerce Blvd. and Clint Moore Road) and will move east to west. Weather permitting, this project is estimated to be completed in approx. 30 days.

Have corporate news to share or looking to relocate/expand your company to Boca Raton? Contact the city’s economic development office at economicdevelopment@myboca.us or 561-393-7761. Want to see what we are up to? Follow us on Facebook @BocaEconomicDevelopment.