A three-property office-and-retail portfolio in Boca Raton quietly changed hands this week for about $93 million, ranking as one of the larger suburban commercial trades in Palm Beach County. The package includes a mixed-use office-and-retail center and two companion holdings that industry watchers say are largely leased, underscoring how investors are still chasing stabilized suburban assets even as downtown markets wrestle with more churn.
Inside the $93 Million Deal
According to the South Florida Business Journal, the portfolio, which totals three properties and is roughly 90% occupied, sold for about $93,000,000 on Feb. 24, 2026. The report identifies the Boardwalk office-and-retail property at 6885 S.W. 18th Street as one of the assets and notes that a McDonald’s ground lease tied to the site was carved out and sold in a separate transaction.
Suburbs Keep Pulling Ahead
Investors have been steering capital into Palm Beach County’s suburbs as tenants look for lower rents and modern amenities outside the pricier downtown cores. The Real Deal reported earlier this year that suburban demand has been on the upswing, while market data from HawkinsCRE show Palm Beach County’s office vacancy tightening to about 10.4% in late 2025.
“Momentum has been pretty strong,” JLL’s Steven Hurwitz told The Real Deal, describing the pickup in leasing across Class A suburban product. That kind of backdrop helps explain why a mostly leased, mixed office-retail package in Boca Raton would still attract buyers despite broader national headwinds for the office sector.
What It Means for the Boca Properties…