Grover Corlew Completes $47.5 Million Refi Of Palmetto Central Campus In Boca Raton
The financing was provided by City National Bank of Florida.
The financing was provided by City National Bank of Florida.
The 2-building, 170,000-square-foot campus is currently undergoing a $60 million renovation.
Scheduled to break ground in late 2025, Grover Corlew has already invested more than $10 million in interior renovations at 600 and 700 Hillsboro Boulevard and signed leases for more than 20,000 sq. ft. of office space with several big-name tenants.
The national eyewear chain has relocated the company headquarters to a 14,438 square foot space. Deborah Fink of CBRE represented the landlord in the transaction.
Having earned the reputation in Florida and the southeastern U.S. for reimagining infill office properties in prime locations, Grover Corlew plans to invest in the building with upgrades to tenant space, common areas, landscaping and the façade.
The project will reinvigorate the nearly three acres of underutilized parking lots behind Grover Corlew’s 2401 Atlantic and 2335 Atlantic office buildings.
The real estate investment management group purchased the 109,497-square-foot building for $44.6 million.
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