Ascentris and Bridge sell South Florida office campus
Transactions - OCTOBER 11, 2021

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Ascentris and Bridge sell South Florida office campus

by Released

Ascentris and Bridge Investment Group have sold Fountain Square, a three-building, 242,000-square-foot office campus in Boca Raton, Fla.

Ascentris and Bridge acquired the campus in 2017 and implemented an extensive renovation program, which included modernized lobbies and restrooms, improved common areas, and expanded outdoor seating and collaboration space. The repositioning initiative also included construction of speculative suites which catered to tenants seeking high quality, move-in-ready space. Since its acquisition of the Property, ownership completed over 100K sf of leasing and increased rental rates by 28 percent.

Three premier retail centers, including Town Center at Boca and Boca Center, are located within two miles of Fountain Square, providing access to over two million square feet of retail destinations and some of Boca Raton’s top retail and dining options. Favorable demographics, a high quality of life, and lack of new supply have caused market rents

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