Boca’s Economic Development Report

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

Last month, Boca’s elected officials presented us with a proclamation recognizing the importance of economic development. Boca’s Office of Economic Development launched four years ago as a one-person team. In December 2018, our team grew to two staffers. We’re lucky to serve Boca Raton’s robust corporate community. As for our four years in business – we didn’t come this far, to come this far. Stay tuned, there’s more to come.

Boca Business Briefs:

Group P6 bought the 4,412-square-foot building at 22 SE 6 St. for $1,382 per square foot, equating to $6.1 million. The building, which was built in 1977 and sits on 0.6 acres, last traded for $2.6 million in 2015.

The largest corporate sale and largest lease deal for Q1 in Palm Beach County both occurred in Boca Raton. The top sale in the County was the sale of the Wells Fargo building at 925 S. Federal Highway for $34.6 million. The top leasing activity in the County was the new lease for FlexShopper’s corporate headquarters totaling 21,622 square feet, in the beautiful Park at Broken Sound.

Three industrial warehouses at 2411 NW First Ave sold for $3.5 million.  The buildings, which total 20,340 square feet, sit on an acre of property.

To determine the best small cities to start a business, WalletHub compared the business-friendliness of more than 1,200 small-sized cities.  After completing the analysis and comparing 18 key metrics, Boca Raton took the 14th spot in the country on their Best Small Cities for Starting a Business.  

We attended the grand opening of Gift of Life’s new corporate headquarters. The event was so much more than a ribbon cutting. It was filled with stories of hope, miracles and paying it forward. We’re lucky to have South Florida’s first stem cell collection center based in Boca Raton.  The company expects to collect stem cells from over 500 donors over the next year – truly lifesaving work.

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.