Boca Raton Innovation Campus (BRiC) has secured over 260,000 square feet in new leases and renewals. The campus, owned by CP Group and DRA Advisors, saw several firms expand or renew their commitments.
Among the new tenants, All Star Recruiting Locums leased 42,700 square feet and will relocate from Deerfield Beach. Cinch Home Services signed for 32,900 square feet. EchoTwin AI, a technology firm focused on AI spatial intelligence for cities, leased 2,700 square feet for its first office as founder Chris Carson moves to South Florida from San Francisco.
Existing tenants renewing leases at BRiC include Modernizing Medicine with 127,800 square feet, Everglades University with 52,600 square feet, and NewtekOne with 7,800 square feet.
All Star Recruiting Locums, Cinch Home Services and Modernizing Medicine were represented by Ryan Nunes and Alan Kleber of Cushman & Wakefield. Everglades University was represented by Zach Wendelin and Adam Bernstein of JJL; Bernstein has since joined Stream Realty. Jeff Kelly of CBRE acted for the landlord.
CP Group is led by Angelo Bianco and Chris Eachus. DRA Advisors is led by David Luski. The two firms own the 1.7 million-square-foot BRiC campus at 5000 T-Rex Avenue in Boca Raton. In 2021, DRA acquired a stake in the property for $320.2 million.
BRiC was originally developed in the 1960s by IBM for research and development purposes. It is currently undergoing a $100 million renovation that will add spec suites as part of CP Group’s worCPlaces flexible office portfolio. Other upgrades include a wellness center managed by Boca Raton Regional Hospital, an autonomous store, coffee shops, gyms and event spaces.
Plans are also underway to redevelop BRiC into a mixed-use complex with multifamily units, retail space, dining options, entertainment venues and a grocery store following rezoning approval from Boca Raton officials in 2023.
In Miami’s Wynwood district, Ripco Real Estate relocated its office from Brickell to Gateway at Wynwood at 2916 North Miami Avenue. The new space totals 5,200 square feet—an increase from the previous location—and will allow for future staff growth according to Tony Pavli, Ripco Florida managing partner. Ripco opened its Miami office in 2021 amid increased migration to South Florida which contributed to an active leasing market.
Gateway at Wynwood is owned by Cire Equity after acquiring it through an $89.6 million credit bid in August following foreclosure proceedings against developer R&B Realty due to mortgage delinquency issues totaling $112.9 million.
Other notable transactions include Morgan Motor Company opening its first U.S. showroom at Aventura Mall; Club Studio gym launching operations at Miami Worldcenter; Reforming Pilates preparing to open at Mary Brickell Village; Kimco Realty signing three tenants—Cava restaurant, Miniso retailer and Yoga Joint studio—at Palms at Town and Country shopping center; law firm Nason Yeager Gerson Harris & Fumero expanding its lease at Seacoast Banking Center in Palm Beach Gardens; Play Sporting Lounge preparing to open a sports entertainment venue at CityPlace Doral; Italian brand Rimadesio launching a showroom in Edgewater; and chefs Jeff McInnis and Janine Booth opening Florida Room restaurant in Fort Lauderdale.
These deals reflect continued activity across South Florida’s commercial real estate market as companies seek expansion opportunities or adapt locations based on business needs.
