BOCA RATON, FL, October 27, 2017 — Cushman & Wakefield announced today that it has negotiated a new, long-term 24,914-square-foot office lease with The GEO Group, Inc. at Boca Village Corporate Center in Palm Beach County.
Managing Director John K. Criddle and Senior Associate Joseph J. Freitas negotiated the lease on behalf of building owner AGS Properties Corporation. Jay Whelchel of Whelchel Partners represented GEO Group. A January 2018 move-in date is anticipated.
The GEO Group, Inc. (NYSE: GEO) is the first fully integrated equity real estate investment trust specializing in the design, financing, development, and operation of correctional, detention, and community reentry facilities around the globe. GEO is the world’s leading provider of diversified correctional, detention, community reentry, and electronic monitoring services to government agencies worldwide with operations in the United States, Australia, South Africa, and the United Kingdom. GEO’s worldwide operations include the ownership and/or management of 143 facilities totaling approximately 100,000 beds, including projects under development, with a growing workforce of approximately 23,500 professionals.
The GEO Group is currently constructing its new corporate headquarters on an adjacent site and will utilize Boca Village Corporate Center as additional space. The GEO Group’s existing headquarters operations are housed at One Park Place on NW 53rd Street in Boca Raton.
Boca Village Corporate Center is a state-of-the-art, 108,550-square-foot Class A office building developed in 2008. As one of the five newest buildings in Palm Beach County, the seven-story asset features five stories of office space with high-end finishes throughout, hurricane-rated impact glass and three floors of covered and attached parking. It is one of the few Class A buildings in Palm Beach County with a fully redundant backup generator capable of powering the entire facility for one week. The building is LEED Silver-certified by the U.S. Green Building Council.
Boca Village Corporate Center is located at 4855 Technology Way in southeast Palm Beach County, only one minute from the Yamato Road interchange on Interstate 95. This location provides excellent visibility from Interstate 95, direct access to the Boca Raton Tri-Rail station and is a short drive from both Palm Beach and Fort Lauderdale International Airports.
Boca Village Corporate Center is currently 91.3 percent leased. Notable tenants include Morgan Stanley, Oppenheimer and Gunster.
Source: Cushman & Wakefield