BOCA RATON — A $50 million land deal in Boca Raton has cleared the way for construction of a 500-unit rental community, part of a sweeping redevelopment at the Office Depot site meant to transform the prime stretch along North Military Trail into a walkable hub of offices, shops and homes.
The sale, announced July 23 by developers BH Group and PEBB Enterprises, transfers 9.9 acres at 6600 N. Military Trail — including an aging office tower slated for demolition — to an affiliate of real estate developer Related Group, which will build the apartments.
City officials approved the project in February, touting it as a way to add housing in one of Boca Raton’s fastest-growing corridors.
The broader redevelopment, now called “The Eclipse,” also includes more than 405,000 square feet of office space, nearly 43,000 square feet of retail and restaurant space, and a nearly 37,000-square-foot fitness facility.
Related’s chief executive, Jon Paul Pérez, said the rental community is designed to meet surging demand for “high-design, lifestyle-first” apartments in South Florida.
“It offers a walkable location, top-tier partners, and the opportunity to reshape one of Boca’s most strategic corridors,” Pérez said. “With this redevelopment, we’re delivering a level of design, service, and livability that’s been missing from the rental market in this part of Boca.”
The Office Depot site, which faces the Old Course at Broken Sound Club golf course, was originally a three-story building complex bought by the company in 2017 for $132 million. The company will continue leasing the two remaining buildings.
The nine-story complex will replace the site’s existing south tower, while a parking garage next to it will remain. Demolition is scheduled to begin in September.
PEBB Enterprises chief executive Ian Weiner described the sale as a significant step forward for the mixed-use development.
“The opportunity to again partner with two best-in-class developers on a market-shaping project is incredibly exciting for us,” Weiner said. “These Class A apartments perfectly complement the project’s office, retail and restaurant components.”
The project has already attracted significant office leasing activity, with tenants including Atlantic | Pacific Companies, I Heart Mac & Cheese, Kanner & Pintaluga P.A., MN8 Energy and ODP Corp.
The 29-acre site was bought by BH Group, PEBB Enterprises and Related Group in 2023 for $104 million. It overlooks the Broken Sound Country Club’s golf course.
BH Group’s Isaac Toledano said the project represents a step toward creating a central, mixed-use hub in Boca Raton.
“We are making significant progress in executing our vision to create a true town center in Boca Raton,” he said. “This dynamic development is the right project at the right time for the city.”
Jasmine Fernández is a journalist covering Delray Beach and Boca Raton for The Palm Beach Post. You can reach her at jfernandez@pbpost.com and follow her on X (formerly Twitter) at @jasminefernandz. Help support our work. Subscribe today.
This article originally appeared on Palm Beach Post: $50 million land sale clears way for 500-unit apartment complex at Boca’s Office Depot site
Reporting by Jasmine Fernández, Palm Beach Post / Palm Beach Post
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