Newmark Secures Acquisition Financing for 1.7 Million-Square-Foot BRiC Campus in Boca Raton

Newmark has successfully arranged acquisition financing for the Boca Raton Innovation Campus (BRiC), a sprawling 1.7 million-square-foot office and research-and-development facility located at 5000 T-Rex Ave. in Boca Raton, Florida. West Palm Beach-based Related Ross acquired the 124-acre property, though the purchase price and financing amount remain undisclosed. The selling consortium included CP Group, DRA Advisors, Las Olas Capital Advisors, and Rialto.

The financing, secured through Ares Real Estate funds, was facilitated by Newmark's Jordan Roeschlaub, Nick Scribani, John Caraviello, and Josh King. The BRiC campus, formerly IBM's regional headquarters, offers a diverse range of amenities beyond office and laboratory space, including two cafés, an 800-seat presentation hall, multiple event venues, a gym, and direct shuttle service to the Boca Raton Tri-Rail station. Current tenants include D-Wave Quantum Inc., Modernizing Medicine, and Everglades University. This transaction underscores continued investor interest in large-scale, amenity-rich R&D and office properties in the South Florida market.