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. Business. Briefs.

The 244,232-square-foot building at 6600 Congress Avenue in the Park at Broken Sound sold for $51MM, equating to $208 per square foot.

Amazon is set to open its new delivery station in Boca Raton. The facility will be located at 700 Banyan Trail. The new station will provide the crucial last mile logistics needed to keep up with their increasing demand.

Two Boca based investment firms recently raised a huge amount of capital. Within two weeks, Kayne Anderson raised a $1.3B fund targeting debt being sold by distressed sellers, and IP Capital raised a $51MM fund within a month.

According to CNBC, contracts for seven-figure homes in Palm Beach County jumped 26% in the month of May.

Office Depot stands up to its #DepotDifference motto. They recently donated $200,000 to help students beat the “summer slide.” In addition to other organizations, donations were made to a number of South Florida non-profits.

Interesting statistic in a recent Forbes article: In 2018, the New York metropolitan area was losing 100 people per day on average, most of them to Florida. Now it is closer to 270 per day to Florida.

Florida Atlantic University is among a handful of schools that offer online master’s degrees in artificial intelligence.

Out of 191 cities analyzed, Boca Raton ranked No. 3 on WalletHub’s 2020 Best Beach Towns to Live in. #GoodBetterBoca

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 are up to? Follow us on Facebook @BocaEconomicDevelopment.