Stephen Ross Of Related Ross Acquires Boca Raton Innovation Campus Office For $1.7 Billion
5000 T-Rex Avenue
Building Size
1,700,000 SF
Asset Type
Office
Closing
Jun 17, 2026
About this deal
AI
This article discusses the office asset located at 5000 T-Rex Avenue in Boca Raton, FL. The property encompasses 1,700,000 square feet and is currently under contract. It is a notable site as it is part of the Boca Raton Innovation Campus, previously utilized by IBM.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 5000 T-Rex Avenue
- Market: Boca Raton, FL
- Asset Size: 1,700,000 SF
- Buyer: Stephen Ross
- Buyer’s Company: Related Ross
The deal involves Stephen Ross, a prominent figure in real estate development, representing Related Ross. The acquisition is significant as it marks a strategic expansion into Boca Raton, highlighting plans for redevelopment into a mixed-use “micro-city” that will include offices, residential spaces, retail, and dining options, furthering the company’s ambitions in Palm Beach County.
On the Map
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93