Grover Corlew’s Palmetto Central Office Campus In Boca Reaches 90% Occupancy

Grover Corlew recently announced its 170,000-square-foot, two-building Palmetto Central campus at 1489 & 1499 W Palmetto Park Road in Boca Raton reached the 90% occupancy level.

Grover Corlew transformed the previously aging Class C campus positioned in the heart of Boca Raton into a modern, Class A office location with more than $30 million in renovations. Improvements include floor-to-ceiling hurricane-impact windows, renovated common areas, outdoor patios, upgraded office suites and a redesigned entrance featuring a tiered water feature.

The Palmetto Central campus has attracted a growing roster of tenants, including UHealth Boca Raton, a University of Miami Health System clinic; Venture X, NexCure, Texas Instruments, Gilbane Construction Company and Huntington National Bank.

“Demand for quality office space in Boca Raton in general, and specifically at Palmetto Central, has been increasingly strong over the past few years,” said Grover Corlew partner Mark Corlew. “We have prospects lined up for future vacancies at Palmetto Central. We’ve also been fortunate to have access to capital in recent years, which has allowed us to attract quality tenants. Much of the property’s success also comes from having the right partners. Max Pawk and Joe Freitas of CBRE have been instrumental in attracting tenants to the building, while City National Bank of Florida recognized our vision and provided critical financing support during a challenging lending environment.”

Grover Corlew acquired the 1499 building in 2016, and 1489 through a series of condominium purchases between 2019 and 2021.  Renovations were completed between 2022 and 2024.

With continued interest from prospective tenants, Grover Corlew is actively pursuing new leasing opportunities as existing leases approach renewal over the next year, positioning 1489 to maintain strong occupancy and attract tenants at current market rental rates.

Located immediately east of I-95, Palmetto Central offers convenient access to downtown Boca Raton, the Brightline station, Florida Atlantic University, Town Center at Boca Raton and surrounding business districts.

Key Facts

• Property: Palmetto Central
• Location: 1489 and 1499 W. Palmetto Park Road, Boca Raton
• Asset Type: Class A office campus
• Owner/Landlord: Grover Corlew
• Size: 170,000 square feet across two buildings
• Occupancy: 90%
• Tenants: UHealth Boca Raton, Venture X, NexCure, Texas Instruments, Gilbane Construction Company and Huntington National Bank
• Renovations: More than $30 million; completed between 2022 and 2024
• Financing: Provided by City National Bank of Florida
• Brokers: Max Pawk and Joe Freitas of CBRE