Boca’s Economic Development Report

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By: Jessica Del Vecchio, Boca’s Economic Development Manager

Special to the Boca and Delray newspapers

Boca Color Graphics

Boca Color Gra­phics is a bit of an institution in our city. The family owned and operated commercial printing company has been in business for 49 years. Started in 1967, by Joe and Eileen Massarella, the business was originally known as the Boca Raton Letter Service.  The original location was at 29 East Boca Raton Road, which was directly across the street from what is now referred to as the Old Town Hall. During this time, Old Town Hall was still Boca’s City Hall. The building they’re in today was constructed in 1998 and is operated by three of the five Massarella children. We recently toured their facility and had the opportunity to meet Joe and Eileen. After our tour, Mayor Haynie presented a plaque of appreciation as a way to thank the Massarella family for their loyal dedication and contribution to Boca Raton.

Year End Commercial/Residential Reports

Boca’s thriving housing and commercial markets are reportedly outperforming and leading the County. According to Cushman & Wakefield’s 4th quarter report, Palm Beach County had very robust leasing activity during 2016. Of the 38 municipalities that encompass Palm Beach County, the most active submarket, in terms of new and expansion leases was in Boca’s NW corridor. Colliers International reported similar findings, reporting that Boca’s industrial market has captured and continues to capture the highest rental rates in the County, while also having the lowest vacancy rates.

On the residential front, Colliers reported an increase in housing demand in our City. They credit this increased demand to the growing population of seniors moving to Palm Beach County for retirement, and an increase of millennial’s seeking high-salary jobs, particularly in Boca Raton. Collier’s findings reflect the same views reported by The Real Deal, who recently called Boca Raton one of the strongest real estate markets in all of South Florida.

LoopLink

As part of our continued economic development efforts, we’ve added LoopLink to the City’s official website. LoopLink is a subsidiary of CoStar Group, the largest marketer of commercial real estate in the country. This search tool provides free access for the public to view over 300 available commercial properties for lease or sale in Boca Raton. Our goal is to make corporate relocations and expansions as easy as possible and this tool is extremely valuable when companies are researching the local commercial real estate market. To take a tour of available corporate properties, please visit our website at www.businessboca.com.  

Have corporate news to share or looking to relocate/expand your company to Boca Raton? Contact the city’s economic development office at economicdevelopment@myboca.us or 561-393-7761. Want to see what we’re up to? Follow us on Facebook @BocaEconomicDevelopment.