ADT Signs 104K-SF Lease, Keeping HQ in Boca Raton
ADT, the security firm that’s one of South Florida’s largest publicly traded companies, has renewed the lease on its corporate headquarters — although with what appears to be a smaller footprint than it occupied over the past decade.
ADT said it signed a lease for 104,000 square feet at 1501 Yamato Road in The Park at Broken Sound in Boca Raton. The property is owned and managed by Tortoise Properties of West Palm Beach and PEBB Enterprises of Boca Raton.
The building has been ADT’s home address since 2012. In its most recent annual report, issued in March, ADT said its Boca headquarters was 140,000 square feet.
As part of the lease, Tortoise Properties and PEBB Enterprises agreed to improvements “designed for today’s workforce preferences,” the companies said in a statement. New amenities will include flexible offices, lounges, renovated kitchens and wellness spaces.
The parties wouldn’t comment about the length of the lease renewal or the lease rate.
ADT said it had 25,000 employees nationwide at the end of last year. Its 2021 revenue was $5.3 billion, landing the company just outside the Fortune 500.
Greg Katz of Newmark and Jeff Kelly of CBRE represented Tortoise Properties and PEBB Enterprises as leasing agents. ADT was represented by Scott Panzer and Deanna Becker of JLL (JLL).
Jeff Ostrowski can be reached at email@example.com.