BOCA RATON, Fla. — IBM’s former home in Boca Raton could be in for a transformation. It's thanks to a new multi-million dollar investment. “$320 million, which is a massive, massive investment,” said Thomson. “I think a reflection of the fact that in Boca Raton, it's a great place to be, it’s an attractive place to be, and the DRA Advisors firm wanted to have a piece of the action.”
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.