PALM BEACH, FL-LexisNexis has signed a 10-year, $13 million lease renewal at the Meridian Commercial office complex at the Arvida Park of Commerce, a business park in Boca Raton near I-95 and Yamato Road. The company is the sole occupant of its 61,524-square foot building.

The rental rate for the space is in line with other rates in the North Boca Raton/Arvida Park of Commerce corridor, which run from about $14 to $16 per square foot triple net, says Gordon Messinger, a senior commercial associate with the Terranova Corp. who represented the landlord, a pension fund advisor based in New York known as Granite Meridian, LLC. The office vacancy rate in Boca Raton is about 30%.

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