Downtown Boca Getting $20-Mil Financial Center

BOCA RATON, FL-Bryason Realty Corp. has been established here as a full-service commercial real estate company, affiliated with the Bryason Corp., one of South Florida’s leading portfolio developers since 1996.

Charles Shane, a veteran of 30 years in the commercial real estate industry, is president and co-founder of the new firm, located at 7251 West Palmetto Park Road, Suite 206, in Boca Raton. James King, president and founder of the Bryason Corp., is a principal in the new firm.

Bryason Realty Corp. will serve as the leasing agent for a $20 million major financial center being planned by the Bryason Corp. for Downtown Boca Raton.

The project involves renovating an existing building and the construction of a new structure on an adjacent site. Located at 555 and 595 South Federal Highway, the complex will have an estimated total 113,000 sf of class A office space.

The rental rate in the existing 83,000-sf building at 555 South Federal Highway is $16.50 per sf triple net, with a $7.14 per-sf common area maintenance charge, full-service.

Construction of the adjacent 595 Financial Center is scheduled to begin in the second half of 2002. This six-story, 83,000 sf building will feature covered parking, valet services, bank drive-thru facility, and state-of-the-art telecommunications.

Rental rates will range from $26 per sf to $28 per sf triple net, with an estimated CAM charge of $9 per sf, full-service.

“This will be the premier, top-of-the-line office building in this area,” Shane says.In addition to the financial center, Bryason is leasing 40,000 sf of office space at 3100 North Military Trail in Boca Raton for $20-21 per sf, triple net, CAM $6.50, and 70,000 sf at 751 Park of Commerce Drive for $12.50 per sf, triple net, CAM $3.50.

In Boynton Beach, 50,000 sf of retail/office is available at Haggen Ranch Commons for $20 to $25 sf.

“Bryason Realty Corp. was formed with the intention of both providing full services to our third-party clientele and assisting in the planned growth of the Bryason Corp. through selective acquisitions,” Shane tells GlobeSt.com.

Prior to establishing Bryason Realty Corp., Shane was senior vice president at Brenner Real Estate Group in Deerfield Beach.

During his career, Shane has also been actively involved with coordinating and implementing marketing proposals and budgets for institutional and entrepreneurial clients, including governmental regulatory agencies such as the Federal Deposit Insurance Corporation, Resolution Trust Corporation, the Federal Savings and Loan Insurance Corporation and the Federal Asset Management Organization.