When Boca Raton cut the ribbon on our very own Brightline station, it sent a message from Miami to West Palm (and soon Orlando) that we’re open for business. And with a low tax rate, unmatched commercial real estate opportunities and a thriving ecosystem of community partnerships, Boca business is booming. Boca Raton has the most business-friendly environment in South Florida, which is why some of the nation’s largest corporations, including Office Depot and ADT, make their home here.
Contributing in large part to Boca’s status as a business leader is the City’s Office of Economic Development, which serves as the main line of support for local businesses by facilitating economic development programs to create and maintain economic sustainability. Here are a few takeaways from the Office of Economic Development’s most recent quarterly report which shines a spotlight on local businesses and highlights why more businesses are choosing Boca:
Boca Raton’s New Brightline Station Proving to Be a Success
This game-changing project opened on December 21, 2022. The Boca Raton station provides easy access to the arts, culture, entertainment, dining, and job opportunities offered throughout the region. With the Orlando station projected to open by year-end, Boca Raton residents and visitors will soon be able to travel effortlessly throughout the state.
Since its opening, ridership demand for the Boca station has increased dramatically. During the month of January the two newest stations, Boca Raton and Aventura, generated 42,391 rides and represented 27% of the nearly 157,000 Brightline rides for the month. Due to the high level of interest and increased ridership at the Boca terminal, Brightline plans to increase its services to meet market demand.
Boca Raton Leads the County in Corporate Office Leasing for 2022
Commercial leasing activity in Boca Raton has reached remarkable new heights. In 2022, a total of 473,697 sq. ft. of office space was leased in the city, up from 227,403 sq. ft. in 2021. Boca Raton continues to lead Palm Beach County in commercial leasing activity by a large margin. The municipality that ranked number two in the County for 2022 leased ≈110,000 sq. ft.
The top office lease deal in Palm Beach County for 2022 took place in Boca Raton. The lease was the renewal by ADT Security, for its 104,000 sq. ft. corporate headquarters at the Park at Broken Sound.
Restaurant Row Coming to Midtown Boca
This highly anticipated project is bringing new and exciting dining concepts to Boca Raton. The 22,500 sq. ft. ground-up construction currently underway is being developed by PEBB Enterprises. Restaurant Row is at the base of the 145,000 sq. ft. Two Town Center office building adjacent to Town Center mall. Local resident and Michelin-starred chef Fabio Trabocchi will be bringing Fiolina Pasta House. Also coming to Restaurant Row is Pubbelly Sushi, a fusion of Japanese and Latin-inspired dishes, Shabibi, a Lebanese-inspired concept and Modern Restaurant Groups’ beloved El Camino, which is well-known for serving up Mexican soul food. Restaurant Row is slated to open Summer 2023.
Top 20 Fastest Growing Brands in the U.S.
Two of the top 20 fastest growing brands in the U.S. are headquartered in Boca Raton. Morning Consult, the definitive measure of brand growth for both emerging and established brands, analyzed 1,689 consumer brands across the United States. Celsius Holdings, the maker of various carbonated and non-carbonated functional energy drinks, and Office Depot Corporation, the provider of business services and supplies, products, and digital workplace technology solutions, both made the list.
This post is sponsored by Boca Raton Office of Economic Development
