DRA Advisors would be joining as an investor and CP Group would remain as a manager and operator of the site. The $320 million agreement, finalized just few days ago, highlights how the Boca Raton Innovation Campus, where IBM developers long ago invented the personal computer, has stood out in value and for its redevelopment potential.
The Boca Raton Innovation Campus sold for $320.2 million, marking South Florida’s biggest office deal of the year. New York-based DRA Advisors bought the 1.7 million-square-foot office park at 5000 T-Rex Avenue, according to records. The buying entity also lists the address of the seller, Boca Raton-based CP Group, in state corporate records.
Kicking off the 2021 holiday season, CP Group’s Annual “Community” Tree Lighting in Boca Raton at its Boca Raton Innovation Campus (BRiC) drew hundreds of local yuletide revelers for a full evening of winter magic culminating in the illumination of a 40-foot Christmas tree, decked in thousands of twinkling LED lights and hundreds of ornaments.