PEBB Enterprises Sells Boca Raton Office Building For $14 Million
The $14 million sale was an off-market deal.
The $14 million sale was an off-market deal.
The approved site plan encompasses over 405,000 square feet of office space in two buildings, four new retail and restaurant outparcel buildings totaling nearly 43,000 square feet, a nearly 37,000-square-foot luxury fitness facility and 500 multifamily units.
The property is being redeveloped into a mixed-use campus by Related Group, BH Group, and PEBB Enterprises.
PEBB and Banyan picked up the 23-acre site for $7.46 million.
The properties are occupied by Taco Bell and Burger King.
The leases total more than 11,500 square feet.
Located at 3600-3998 FAU Blvd., the Research Park includes a total of 308,305 square feet of office space. It is the only state university-affiliated research park in South Florida and considered a premier technology business incubator for the region.
The joint venture is planning a significant project following a $48.5 million acquisition in the city’s waterfront Harbordale neighborhood.
In 2020, Marathe and partner Andy Dugard opened Stage Kitchen & Bar in Palm Beach Gardens. The restaurant was recognized by USA Today’s Best Restaurants of 2024. In 2023, Marathe was nominated “Best Chef: South” semifinalist by the James Beard Foundation.
A national fast-casual food concept will establish its corporate headquarters on the office building’s third floor.
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