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Posted on: February 1, 2024 | Last Modified on: February 1, 2024

Business Booms in Boca Raton with Most Significant Office Leasing Activity in the Area

Aerial view of Boca Raton

Boca Raton, FL – The City of Boca Raton far outpaced Fort Lauderdale and West Palm Beach in total square footage of significant leasing activity in 2023, according to recent data compiled by the City’s Office of Economic Development. 

Boca Raton’s continued growth in office space demand demonstrates the city's resilience and appeal to businesses seeking a strategic and dynamic location. The City’s total significant leasing activity* in 2023 was 525,237, compared with 343,453 in Fort Lauderdale, and 126,282 in West Palm Beach. The City’s number also reflects a 10%+ increase over 2022.

Total Significant Square Footage Leasing Activity

Economic Development Manager for the City of Boca Raton, Jessica Del Vecchio, attributes the growth to the City’s positioning as a top choice for a diverse range of businesses looking to establish or expand their operations.

“Our City's strategic location, coupled with our business-friendly environment and robust infrastructure, has contributed to our appeal as a premier destination for corporations and entrepreneurs,” commented Jessica Del Vecchio, Boca Raton’s Economic Development Manager. “You really can work in paradise.”

The influx of businesses and the leasing of office spaces in Boca Raton are expected to have a positive impact on the local economy, creating job opportunities and fostering community growth. 

Boca Raton Mayor Scott Singer noted, “We are thrilled that we again fostered great economic growth in Boca Raton this past year. Boca Raton has become a beacon for businesses seeking not only a thriving market but also a community that values innovation and prosperity. Our city attracts entrepreneurs and large corporations alike through a commitment to innovation, strategic investments in infrastructure, and creating an environment where businesses flourish.” 

The Office of Economic Development remains committed to fostering a business-friendly atmosphere and providing support to companies seeking to establish themselves in Boca Raton. Details are provided in the recently released in the Office of Economic Development’s 2023 Annual Report.  

For more information on Boca Raton's economic development initiatives, please visit our webpage.  

*Colliers 2023 Quarterly Office Reports


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