The New York Post just put Boca Raton’s office market in the spotlight.
Boca just broke ground on its first new office building in nearly two decades. The Aletto, a 140,000-square-foot Class A project rising near Mizner Park, already has tenant commitments for 65% of its space before it opens its doors. When a building is two-thirds committed before it delivers, the market is sending a clear message: quality and amenities win.
What the Numbers Are Saying
For three consecutive years, Boca’s Class A office market saw more space vacated than leased. That flipped in 2025. Leasing volume reached the second-highest level on record, net absorption turned positive, and asking rents have increased.
The story behind the numbers is straightforward. Downtown West Palm Beach rents are climbing, and new construction across the county is pushing costs even higher. Meanwhile, Boca Raton has remained one of the few markets where Class A space holds its value — quality buildings, strong infrastructure, local amenities, and a deep talent pool, at a cost structure that makes sense. For businesses making long-term real estate decisions, that’s not a fallback. That’s a competitive advantage.
What This Means Right Now
New construction is coming — but it comes at a price. The Aletto is marketing space at $95 per square foot. For companies that want Class A quality, professional management, and competitive economics without waiting for a building to deliver, the existing inventory in Boca is where the opportunity is right now.
NAI Merin Hunter Codman has been leasing and managing Boca Raton office properties for decades — through the slow cycles and the strong ones. The fundamentals are as compelling as we’ve seen them.
We currently have four notable projects in the Boca market:
951 Yamato – A 146,000 SF Class A building we lease & manage with a stunning atrium, concierge services, move-in ready suites, and Energy Star certification. Positioned midway between Broward and Palm Beach County with easy access to I-95, Tri-Rail, and Brightline.
900 Broken Sound – A five-story, 116,000 SF Class A building we lease & manage in The Park at Broken Sound – Boca’s premier live-work-play destination. Lake views, walking trails, EV charging, and full-floor headquarters availability. One of the strongest value propositions in the submarket.
Yamato Office Center (999-1001 Yamato Rd) – One of Boca Raton’s premier Class A office parks, professionally managed by MHC. Two first-class buildings totaling 172,000 SF with an outdoor lounge amenity, direct Yamato Road frontage, and easy access to I-95, the Turnpike, and Brightline. Recently upgraded with a new tenant lounge featuring a putting green and grab-and-go food — a genuine differentiator in today’s suburban office market.
The Thompson (2201 NW Corporate Blvd) – A two-story, ±27,422 SF office building we lease and manage in Boca Raton’s established Glades Corporate Park. Features a striking two-level atrium with marble flooring, recently renovated common areas, covered parking, and 24-hour access. Centrally located with immediate access to I-95, Glades Road, the Florida Turnpike, and Town Center at Boca Raton.
The market has been telling this story for a while. Now the rest of the world is catching up.
For leasing inquiries, contact us at 561-471-8000 or visit mhcreal.com.
