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Boca’s economic development report

Welcome to the City of Boca Raton’s Economic Development column. We’re excited to partner with the Boca Newspaper and share Boca’s business news and events with their readership. Here’s a look at what we’ve been up to lately:
Park Place updates
Let’s start with the recently released tenant list for Park Place, the newly constructed shopping center on Military Trail, just north of Yamato Road, slated to open mid November.
The anchor store will be a 20,000-square-foot Fresh Market and the surrounding tenants with signed leases are: Burton’s Grill, Chipotle, Eileen Fisher, Fresh Kitchen, Habit Burger, PheNOMeNOM Ice Cream, Rappy’s Deli, Raw Juce, Sprint, The Cheese Course and Venetian Nail Spa.
We spoke with Ross Feurring from Schemer & Feurring Properties, Inc. regarding their new project and he said, “We are extremely excited about bringing a new destination for both shopping and dining to the great city of Boca Raton.”
We share Ross’ excitement and enthusiasm and look forward to shopping and dining at Park Place come mid November.

Boca’s corporate growth
Our corporate community continues to thrive. Of the county’s eight fastest growing companies on South Florida Business Journal’s list, six are headquartered in Boca Raton. The companies on the list are: Modernizing Medicine, Touchsuite, MobileHelp, Kaufman Lynn Construction, DC Construction and Distinctive Kitchen and Baths.
Not only is MobileHelp one of the fastest growing companies in the county; they recently celebrated their 10th anniversary.
In addition to our existing thriving corporate community, Boca Raton continues to attract new companies. The Real Deal – South Florida wrote an article regarding Class A leasing activity in Palm Beach County. Of the 600,000 square feet of commercial leases signed over the second quarter, 65% of them were in Boca Raton.

Cross Country Healthcare rings NASDAQ bell
Ranked as one of the largest staffing firms in the country, publicly traded Cross Country Healthcare (NASDAQ – CCRN) recently celebrated the expansion of their corporate headquarters to over 100,000 square feet. Cross Country Healthcare employs 600 corporate executives locally and more than 1,600 nationwide. In addition to this expansion, they recently celebrated their 15 years of trading on the NASDAQ by ringing the closing bell. What an incredible honor.

Park at Broken Sound

The Park at Broken Sound will be home to the recently relocated corporate headquarters of Orangetheory Fitness. The company purchased its new 77,000 square-foot building for $13.9 million. In addition to the corporate relocation, the fitness company is opening a new studio in East Boca. Their first Boca studio, located in Glades Plaza, opened in March of 2012 and was the company’s 11th location. The new location, which is expected to open on Palmetto Park Road by year-end, will be their 472nd location. That’s impressive growth for any company, but we’re especially proud of them because they launched in South Florida just six short years ago.

We asked their President, David Carney to provide some insight regarding their growth and here’s what he had to say. “Our first studio opened in March, 2010.  The growth has been strong, doubling our openings each year:  25 were open at year-end 2012; 60 at year-end 2013, 160 by year-end 2014; 330 by the end of 2015.  We project to hit the 600+ mark by the end of this year.  In addition, we have awarded franchises to over 20 countries.  Our International growth will ultimately eclipse our domestic growth.”

Carney then went on to say, “We are excited to be a part of the Boca Raton business community.  While we are still in the process of moving in to the new building, our employees are learning more about the area every day.  This building will offer us the ability to continue the expansion of our employee base, which has grown over 300% in the past 2 years. The team loves the Broken Sound area, with, to name a few – the number and variety of restaurants, the immediate access to the Tri Rail station and the nearby recreational amenities.  We are a very young, active group and will be taking advantage of all that Boca has to offer for our quarterly team building events.  We look forward to an exciting future in Boca!”
Have corporate news to share or looking to relocate/expand your company to Boca Raton? Contact the City’s economic development office at economicdevelopment@myboca.us or 561-393-7761.

By: Jessica Del Vecchio on in News