BOCA RATON, FL (May 30, 2019) – With tenants including Office Depot, OrangeTheory and Cancer Treatment Centers of America, located next to luxury apartments, Park at Broken Sound is not the office park from yesteryears.
The former Arvida Park of Commerce has been rebranded and reinvested into.
Managed by a board of directors, the group has spent about half a million dollars in improvements including repaving roadways and re-striping.
President of the board Brian Schmier and principal in the firm of Schmier & Feurring said office vacancies have continued to decrease and the Park has been financially healthy, which has allowed for the capital improvements.
Board member Glenn Gromann said the city of Boca’s implementation of the planned mobility ordinance, which introduced residential into the park has been successful.
Old Class B offices were replaced with the high-end, multi-family housing and occupancy rates are nearly at capacity, Gromann said.
“The introduction of residential into the area has been fantastic for the park,” he said. “Things are going really well and we are bringing new tenants in. The planned mobility ordinance worked as it was supposed to and things are really going great.”
Other tenants with headquarters at the park include, Mutual of America, Canon, Slavic401K, Greenlane, Boston Proper, Marc Bell Capital, ADT and Purity Grocers.
The city of Boca helped with the park’s revamp by landscaping the medians on Clint Moore Road.
“It’s been a striking revitalization of what was an old office park,” Gromann said, adding it should be an example for other cities to follow.