TerraCap Management announced the acquisition of Boca Commerce Center, a 70,927-square-foot multi-tenant industrial property located in Boca Raton, Florida. The acquisition expands the firm’s industrial footprint in South Florida and aligns with its strategy of investing in well-located assets in high-growth and supply-constrained markets.
Built in 1999, Boca Commerce Center consists of 12 cross-dock bays and is fully occupied by a diversified group of nine tenants. Located within the infill Rogers Circle industrial submarket, the property offers access to Interstate 95, Florida’s Turnpike, Military Trail, and major east-west transportation corridors connecting Boca Raton, Delray Beach, Deerfield Beach, and the broader South Florida region.
TerraCap said the asset benefits from strong market fundamentals, limited industrial supply, and a mix of smaller suites designed to accommodate industrial, service, and flex tenants. The company plans to implement a capital improvement program that includes exterior paint, façade upgrades, landscaping enhancements, modernized lighting, parking lot improvements, and new signage. TerraCap also intends to pursue operational efficiencies to further strengthen the property’s long-term positioning.
Since its founding in 2008, TerraCap has invested in approximately $3.2 billion of commercial real estate assets totaling 20 million square feet. The Naples, Florida-based investment firm maintains additional offices in Tampa and Denver.
KEY QUOTES:
“We are excited to continue expanding our industrial footprint in Florida with the acquisition of Boca Commerce Center. The property sits in an affluent, high-barrier-to-entry submarket with favorable market fundamentals, limited industrial supply, and excellent regional connectivity. Boca Commerce Center aligns well with our strategy of acquiring functional and well-located industrial assets in high-growth and low-supply markets.”
Harrison Haber, Senior Acquisition Analyst, TerraCap Management
“Boca Commerce Center represents an attractive opportunity to acquire a high-quality infill industrial asset in what we believe to be one of South Florida’s premier submarkets. We believe the property’s location, diversified tenancy, and functional design will continue to support leasing demand and long-term value creation. We appreciate the efforts of both the Penn Florida team and the LRM team during the transaction.”
Baron Davis, National Director of Acquisitions, TerraCap Management
