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BOCA RATON, FL-At a cost of $11 million, Patriot Equity is redeveloping the 150,000-sf office complex at 951 Yamato Rd. into Patriot Corporate Center, a class A office campus. Patriot Equity is the real estate arm of locally based Patriot Realty Partners, which acquired the property for just over $13.3 million. Originally designed and built for IBM, it is the former headquarters of Sensormatic Electronics.

The 10-acre campus west of Interstate 95 consists of three, two-story buildings of about 50,000 sf each with an existing 10,000-sf atrium lobby as the hub. The lobby is being redesigned, and the complex will include a café, private dining facilities, business and conference center, concierge, sundries shop, covered parking and a back-up generator. Construction will begin in January and occupancy is anticipated by second quarter 2005.

Gary O. Marino, Patriot’s president, says the complex is targeting small and mid-sized companies with a “Fortune 500-type environment and services typically available only to larger space users.” Available spaces range from 2,000 sf to full, 25,000-sf floors, and Patriot Equity itself plans to occupy 5,000 sf in the complex. Miami-based Codina Realty Services is handling leasing with a team headed by Lee Wheeler.

Architect for the redevelopment is locally based Retzch Lanao Caycedo, and the rest of the team includes Sharpe Project Developments, Kauffman Lynn as general contractor, David W. Harris Consulting Engineers, landscape architect A. Grant Thornborough & Associates and interior design firm LA Design.

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