Cushman & Wakefield’s John K. Criddle and Joseph J. Freitas Negotiated the New Office Lease on Behalf of Building Owner AGS Properties Corporation
BOCA RATON, FL, October 27, 2017 — Cushman & Wakefield announced today that it negotiated a new, long-term 24,914-square-foot office lease with The GEO Group, Inc. at Boca Village Corporate Center in Palm Beach County.
Managing Director John K. Criddle and Senior Associate Joseph J. Freitas negotiated the lease on behalf of building owner AGS Properties Corporation. Jay Whelchel of Whelchel Partners represented GEO Group. A January 2018 move-in date is anticipated.
The GEO Group, Inc. (NYSE: GEO) is the first fully integrated equity real estate investment trust specializing in the design, financing, development and operation of correctional, detention, and community reentry facilities around the globe. GEO is the world’s leading provider of diversified correctional, detention, community reentry and electronic monitoring services to government agencies worldwide with operations in the United States, Australia, South Africa, and the United Kingdom. GEO’s worldwide operations include the ownership and/or management of 143 facilities totaling approximately 100,000 beds, including projects under development, with a growing workforce of approximately 23,500 professionals.
The GEO Group is currently constructing its new corporate headquarters on an adjacent site and will utilize Boca Village Corporate Center as additional space. The GEO Group’s existing headquarters operations are housed at One Park Place on NW 53rd Street in Boca Raton.
Boca Village Corporate Center is a state-of-the-art, 108,550-square-foot Class A office building developed in 2008. As one of the five newest buildings in Palm Beach County, the seven-story asset features five stories of office space with high-end finishes throughout, hurricane-rated impact glass and three floors of covered and attached parking. It is one of the few Class A buildings in Palm Beach County with a fully redundant back-up generator capable of powering the entire facility for one week. The building is LEED Silver-certified by the U.S. Green Building Council.
Boca Village Corporate Center is located at 4855 Technology Way in southeast Palm Beach County, only one minute from the Yamato Road interchange on Interstate 95. This location provides excellent visibility from Interstate 95, direct access to the Boca Raton Tri-Rail station and is a short drive from both Palm Beach and Fort Lauderdale International Airports.
Boca Village Corporate Center is currently 91.3 percent leased. Notable tenants include Morgan Stanley, Oppenheimer and Gunster.
“Boca Village Corporate Center proved to be an exceptional location for The GEO Group as they await the completion of their new headquarters building,” said Criddle. “Boca Village Corporate Center’s proximity to the construction site and existing headquarters, less than one mile away, allow The GEO Group to maintain a sense of normalcy and efficiency during this period of transition and beyond.”
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 45,000 employees in more than 70 countries help occupiers and investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients’ ideas and putting them into action. To learn more, visit www.cushwakecentennial.com, www.cushmanwakefield.com or follow @CushWake on Twitter.
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Boca Village Corporate Center Photo
John K. Criddle Headshot
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