Wells Fargo Center Boca Raton
Jay Whelchel and Kristy Hartofilis with Whelchel Partners Real Estate Services represented the landlord at 925 S. Federal Highway in Boca Raton, in a lease deal totaling 45,000 square feet for Kanner & Pintaluga, a personal injury law firm.
The law firm will be relocating and expanding to the Wells Fargo Plaza from its current location in Delray Beach. In addition to its Florida location, Kanner & Pintaluga also maintains offices in Alabama, Georgia, and South Carolina.
Jim Knight with The Knight Group represented the law firm in the transaction.
The lease is one of the largest in Downtown Boca Raton. After a two-year search, Kanner & Pintaluga decided to move their National Corporate Headquarters to the 925 S. Federal Highway location. The firm is slated to occupy the new space in June 2015. Kanner & Pintaluga’s South Palm Beach County office employs 150 people and is currently hiring trial lawyers.
“Many of our employees live in East Delray and love the area. When we outgrew our current location and were unable to find a large enough space to suit our needs and remain in the same vicinity,” Howard Kanner explained. “We made a conscious decision to find a new location that would still allow our employees to enjoy a pedestrian friendly downtown setting. East Boca Raton was the obvious choice. It gives our employees the best of both cities. They can continue to live in and enjoy Delray, have an easy commute to work and have the added bonus of all of the growth that is occurring around our new location.”
Whelchel Partners has had a significant impact on the decreasing vacancy in downtown Boca Raton’s office market, procuring 113,000 square feet in leases since early 2014. The 10-year K&P lease brings the 102,000-square-foot, Class A office building to 90% occupancy.
According to Whelchel Partners, the Downtown Class-A office market has an overall vacancy rate of 18%, representing a significant year-over-year decline from 22%. The tightening office market is pushing rental rates higher.
“Business are attracted to the robust activity, mix use development and vibrancy in the Downtown. Kanner & Pintaluga’s relocation to the Wells Fargo Plaza is a testament to the renewed corporate appeal in thriving Downtown Boca Raton,” commented Jay Whelchel.