Clothing brand Boston Proper has renewed its long-term lease for its headquarters at 1155 Broken Sound Parkway NW in Boca Raton, Fla. The company has occupied this 42,563-square-foot space within The Park at Broken Sound campus for more than a decade.
Boston Proper, which was founded in 1992 and has been owned by private equity firm Brentwood Associates since 2016, agreed to remain in the 62,729-square-foot office/flex building for another 10 years. The property is owned by Miami-based Adler Real Estate Partners, which acquired it from Prologis eight years ago for $10.2 million.
Located in the largest traditional business park in Boca Raton, the building offers excellent accessibility to I-95 and Tri-Rail. The tenant emphasized the property’s central location and size as key factors in their choice for headquarters.
The renewal includes plans to update Boston Proper’s office space next year. While a portion of the building houses flex warehouse space, Boston Proper’s entire suite is designated as office space.
“Derek Baker and Scott Brenner of Colliers have been great partners in helping us navigate the renewal process for our headquarters,” said Adrian Minor, CFO & COO Boston Proper. “Their expertise and dedication were instrumental in securing a deal that made sense economically and allowed us to evolve the space to meet our needs. We are thrilled to continue our relationship with Adler Real Estate Partners and look forward to many more successful years in our refreshed and updated office.”
“We are extremely pleased to have renewed the lease for Boston Proper’s headquarters,” added Matthew Adler, founder and managing principal of Adler Partners. “As real estate investors and operators of light industrial/flex properties, we strive to be extremely responsive to tenants and are very gratified to have extended our long-term relationship with Boston Proper many years into the future.”
Colliers’ Scott Brenner and Derek Baker represented the tenant, while CBRE’s Kirk Nelson represented the landlord.
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