Stiles Realty, a division of Fort Lauderdale-based full-service real estate firm Stiles, announced today that it represented Circleback Lending in a seven-year lease deal totaling 42,000 square feet at Boca Colonnade I in Boca Raton, FL. This headquarters transaction represents one of the top-five largest leases of 2015 in Palm Beach County, according to Stiles research.
Stiles Realty Vice President Matthew Schwartz represented CircleBack Lending, an internet-based consumer lending financial services company. Liberty Property Trust, which owns Boca Colonnade I, was represented by its Director of Leasing Jonathan Guffey.
“CircleBack has been experiencing explosive growth and was looking for a quality, flexibile space in Palm Beach County that would accommodate their projected expansion over the next few years,” said Schwartz. “This was a rare opportunity to ink high floors so they could build-out a new headquarters and continue on their growth trajectory.”
Located at 777 Yamato Road, Boca Colonnade I comprises 155,481 square feet of Class A office space. The property is Energy Star rated and includes a full line of amenities as well as a two-story parking garage. According to Schwartz, CircleBack Lending moved from a 15,000-square-foot space within the same building and had immediate needs for expansion. After scouring the market for little over 30 days, the company decided to remain at Boca Colonnade I.
“Liberty Property Trust got involved very early on, and was highly accommodating in working with us to help our client move to a more suitable space in the building that would meet their short- and long-term needs,” commented Schwartz.
Based at Stiles’ headquarters in Fort Lauderdale, Schwartz has completed more than $250 million in transaction value over his career. Notable clients have included MetLife, DiVosta Homes, and IP Capital Partners, LLC.
Stiles is a full-service commercial real estate firm with a clear mission: Invest. Build. Manage. Stiles services include development, construction, architecture, property management, leasing and brokerage, tenant project management, acquisitions and real estate fund management. The company is responsible for more than 43 million square feet of office, residential, industrial, retail and mixed-use projects throughout Florida, North Carolina and Tennessee. In addition to its core services, the company manages the Stiles Property Fund, a discretionary value-added real estate fund focused on existing distressed office and retail real estate in Florida. Headquartered in Fort Lauderdale, Stiles maintains offices in Miami, West Palm Beach, Naples/Fort Myers, and Orlando, Florida, as well as a development office in Charlotte, North Carolina. Learn more about Stiles at stiles.com.