An online consumer lending company has signed a seven-year lease in Boca Raton for its new headquarters.
CircleBack Lending leased 42,000 square feet at Boca Colonnade I, marking one of the biggest leases of 2015 for Palm Beach County. Fort Lauderdale-based Stiles Realty Vice President Matthew Schwartz represented the tenant, according to a press release. Liberty Property Trust‘s director of leasing Jonathan Guffey represented itself.
CircleBack moved from a 15,000-square-foot space in the same building at 777 Yamato Road. Liberty paid $24 million for the property in 1998, Palm Beach County records show. It was developed in 1989.
Boca Colonnade I spans 155,481 square feet of Class A office space and features a two-story parking garage, according to Stiles. In a statement, Schwartz said the company has grown quickly and needed to move within 30 days.
In December, Ivy Realty acquired two fully leased buildings at the Park at Broken Sound complex in Boca. Ivy paid nearly $27 million for the Meridian Office Center. – Katherine Kallergis
Source: The Real Deal