Related Ross acquires 124-acre Boca Raton Innovation Campus
Major office properties trade hands, council updates building recertification, and U.S. 1 lane shifts begin.
Decades after IBM ran operations on the site, the 124-acre property at 5000 T-Rex Avenue is entering a new chapter under Related Ross.
Real estate firm Related Ross has purchased the Boca Raton Innovation Campus at 5000 T-Rex Avenue. The 124-acre office park sits between Yamato Road and Spanish River Boulevard. Decades ago, the complex housed IBM operations. Related Ross declined to disclose the exact purchase price. The company confirmed it received nearly $300 million in financing from Ares Real Estate to fund the deal. Sellers included CP Group, DRA Advisors, and Las Olas Capital.
The campus will continue operating as an office and technology center while Related Ross prepares longer-term plans. Former owner CP Group previously proposed converting the property into a mixed-use district with residences and restaurants. Related Ross executives have not yet announced specific new proposals. In the meantime, computing company D-Wave Quantum recently chose the site to relocate its corporate headquarters from Palo Alto. Current office tenants also include software firm Mod Med and media agency Brainlabs.
Thor Equities pays $62 million for Two Town Center office tower
Investment firm Thor Equities purchased Two Town Center at 5355 Town Center Road for $62 million. The 11-story property sits immediately east of Town Center mall. The complex includes 153,213 square feet of office space and a 114,599-square-foot parking garage. The building is roughly 90 percent leased, according to a source familiar with the transaction, Commercial Observer reported. Seller CP Group originally built the tower in 1986 and purchased it in 2014 for $36.3 million. The sale caps CP Group's complete disposition of its Town Center office holdings following earlier building sales.
Lane shifts on U.S. 1 and Clint Moore work head this week's traffic delays
Boca Raton drivers face local delays this week on Clint Moore Road, where golf course wall construction at Woodfield Country Club continues to cause backups.
On Federal Highway (U.S. 1), inside lanes remain closed continuously between Southeast 8th Street and Southeast 5th Street/Mizner Boulevard through Wednesday, September 16. Northbound traffic shifts into the left two lanes from Camino Real to Southeast 5th Street starting Tuesday, September 15. In addition, drivers can expect intermittent lane closures at Camino Real on weekdays from 8:30 a.m. to 4:00 p.m. for signal work.
To the north on Interstate 95, contractor work at Boynton Beach Boulevard may close one lane in each direction starting at 8:00 p.m. Nightly closures can expand to three lanes closed between 10:00 p.m. and 6:00 a.m. through Friday, along with intermittent overnight ramp closures.
City updates building recertification rules and sets downtown assessments
Boca Raton City Council approved Ordinance No. 5794, updating the municipal Building Recertification Inspection Program to match changes in Florida law. The measure clarifies which buildings must undergo inspection. It also updates reporting deadlines, allows extensions when appropriate, and sets rules for required structural and electrical repairs. The changes are expected to have no fiscal impact on municipal finances.
The council also adopted Resolution 99-2026 to establish the 2027 final assessment roll for the Downtown Special Assessment District. The assessments assign fees based on calculated special benefits for properties in the district. Certain excluded properties are listed with a zero balance. Approved assessments are due on or before January 1, 2027, helping fund downtown services and improvements.
Mizner Park parking spaces become a pop-up public space Friday
Boca Raton holds its second annual Park(ing) Day on Friday, September 18, 2026, running from 3:00 p.m. to 7:00 p.m. in Mizner Park. In partnership with Strong Towns Palm Beach, city staff will convert three parking spaces in front of Sloan's into a temporary public space featuring activities and music. The free global event operates through the city Traffic Division's Boca Raton Mobility initiative, which highlights multimodal transportation and alternative uses for public curbside space.
Morning boardwalk trek explores Gumbo Limbo coastal hammock
- When
- Tuesday, September 15, 2026 · 10:00 AM - 10:45 AM
- Where
- Gumbo Limbo Nature Center
- Address
- 1801 North Ocean Blvd, Boca Raton, FL 33432
- Price
- Free
Gumbo Limbo Nature Center hosts an Island Treks walk this morning, guiding visitors along a shaded boardwalk through the tropical hardwood hammock forest. The route offers views through the mangroves toward the Intracoastal Waterway before ending at the observation tower, which has an ADA-accessible ramp. The walk is free and open to all ages, though children must be accompanied by a parent or guardian. Walk-ins are welcome with no advance reservations required. The outdoor program remains subject to cancellation during inclement weather.