Florida’s largest office landlord, in partnership with Related Fund Management, further expands regional footprint with the acquisition of a 267,000-square-foot campus

Georgia’s second-largest office landlord acquires the city’s tallest building and adds 1.35 million-square-feet to its Atlanta portfolio

Atlanta’s second-largest office landlord expands regional footprint with the addition of two properties totaling 169,000 square feet located on Peachtree Road

Two players that dominate the list are New York-based Related Companies, headed by Stephen Ross, which is the biggest office landlord in West Palm Beach by a long shot, and Boca Raton-based CP Group, which made a number of trades this year in both directions.

Maintaining those spaces will mean additional costs, like heat or cooling, but Angelo Bianco, CP Group’s managing partner, said his company was adding outdoor lounge space “to every building we own.” Some new designs focus on flexible indoor-outdoor spaces, like an airy lobby coffee shop with indoor seating and garage-door type walls that can be opened to patio space. 

The new partner in the joint venture is DRA Advisors, a New York-based real estate investment company with $11.2 billion in assets under management. Though news reports said DRA had bought the 123-acre, 1.7 million-square-foot complex where IBM developed the personal computer, CP Group Managing Partner Angelo Bianco called the transaction a “recapitalization,” not a sale.

South Florida just saw its biggest office deal of the year with a huge investment into an office campus in Boca Raton — a gem of land that could be transformed into a destination with 1,000 new residences, as well as stores, restaurants and a hotel.

In an interview with Commercial Property Executive, Angelo Bianco, managing partner at CP Group, and Michael Perrette, the campus’ general manager, share their vision for Boca Raton Innovation Campus and reveal why Industry City was a challenge on a similar scale.