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BOCA RATON, FL-Tech-related tenants continue to flock to this southern Palm Beach County submarket and builders are responding with new product. Fort Lauderdale, FL-based Danburg Management Corp. has started a three-building project called the Preserve at 7700 Congress Ave. A spring 2001 completion date is expected for the 74,470-sf complex. Local office rents average $21.53 per sf.

This is the third new office development at the I-95-Congress interchange. A 310,000-sf building is nearing initial occupancy by the National Council on Compensation Insurance in the Peninsula Corporate Center.

The Codina Group of Coral Gables, FL, which is putting up a 168,000-sf facility just across the street from NCCI for occupancy by IBM, is planning 300,000 sf of additonal space in the area. The Peninsula Corporate Center is also approved for another 350,000 sf of construction.

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