Lynette Green, senior associate in the Palm Beach County officeof CB Richard Ellis, represented the owner, identified as 485Properties LLC, in the negotiations. Greg Roth, formerly with thearea office of the Dallas-based Staubach Co., spoke for thetenant.

Total Wine and More also has units at Legacy Place in Palm BeachGardens and Harbor Shops in Fort Lauderdale. Green says the newanchor at Boca Center is an ideal addition to "the upscalemixed-use ambiance." Among the other Boca Center tenants are:Chico's, Duo Moda, Uncle Tai, Cucina d'Angelo, Bombay, Starbucks,the Crystal Leaf and Spalano.

The value of the lease and rental rate are undisclosed.According to CBRE's most recent retail report, the retail vacancyrate in the county's Boca Raton submarket stood at just over 3.3%in mid-2005, and the average asking rental rate was $29.99 per sf.This puts its average asking rate second only to the Palm Beachsubmarket, which the report puts at $32.50 per sf.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.