A partial redevelopment of Boca Raton’s Office Depot campus is set to go forward after receiving final city zoning approval.
The Boca Raton City Council on Tuesday unanimously approved a site plan to demolish an existing office building to make way for an eight-story building with 500 apartments, nearly 43,000 square feet of retail and restaurant space and a 36,400-square-foot Equinox fitness center.
Coconut Grove-based Related Group, Aventura-based BH Group and Boca Raton-based Pebb Enterprises are developing the project, which will also include 1,160 parking spaces. The developers will set aside 10 percent of the apartments for affordable housing.
The two other existing office buildings within the 29-acre site at 6600 North Military Trail will remain. The development team has not set a date for breaking ground, but the joint venture can now move forward with obtaining building permits, a press release states.
After demolishing the office building, the joint venture plans to begin construction of retail and restaurant outparcel buildings and the fitness center as the project’s first of four phases, according to the release. The fitness center, Equinox, leased a total of 50,500 square feet at the project, which will include outdoor space with a pool, cabanas, cold plunge, hot plunge and padel courts. It is expected to open late next year or early 2027, according to an Equinox spokesperson.
A majority of the 400,000 square feet of space in the two remaining office buildings is leased to Office Depot, which sold the campus for $104 million in 2023 to Pebb, led by Ian Weiner, and BH, led by Liat and Isaac Toledano. The same year, Related, led by Jorge Pérez and his sons Nick and Jon Paul Pérez, joined the partnership.
Also in 2023, Related, BH and Pebb teamed up to purchase Ocean Walk, a beachside retail plaza in Singer Island, for $19.2 million. The partnership took over a ground lease for the 10.5-acre city-owned property, which is fully leased to a tenant roster that includes 7-Eleven, Mulligan’s Beach House, Wings Beachwear and Johnny Longboats.
In May, the trio paid $48.5 million for The Quay at 17th Street in Fort Lauderdale. The 7-acre mixed-use waterfront site consists of a shopping center, a two-story office building and a six-yacht marina. The property is approved for redevelopment as a mixed-use project with 361 condos or apartments and 12,000 square feet of retail and restaurants.