Equinox Inks 37K-SQ Lease at Former Office Depot HQ in Boca
By Julia Echikson January 29, 2025 2:13 pm
reprints
Equinox has worked out a deal in Boca Raton, Fla.
The luxury gym chain signed a 36,700-square-foot lease at the former Office Depot headquarters, which is being redeveloped into a mixed-use campus by Related Group, BH Group and PEBB Enterprises.
“Equinox is a perfect fit for our development, offering our tenants the ideal health and wellness option within the complex,” BH Group’s Isaac Toledano said in a statement.
In 2023, the joint venture paid $104 million to purchase the 29-acre property at 6600 North Military Trail from the office supply retailer, which downsized its office to 214,684 square feet.
Just this month, the developers scored approvals for the four-phase redevelopment project, The Real Deal reported.
Two office buildings totaling 400,000 square feet and a parking garage will stand. Another building will be turned into an eight-story apartment complex with 500 units, 10 percent of which will be earmarked as affordable housing. The project will also house nearly 43,000 square feet of retail and 1,160 parking spots.
Equinox — investors in which include principals at Related Companies — is expanding across Palm Beach County. The gym chain, which counts five locations in Miami-Dade County, signed a 35,000-square-foot lease at the City Place complex in West Palm Beach, which is owned by Related Companies and Related Ross, a new venture started by Related Companies founder Stephen Ross.
A representative for Equinox did not immediately respond to a request for comment.
Julia Echikson can be reached at jechikson@commercialobserver.com.
CORRECTION: This article was updated to reflect that Related Companies does not own Equinox outright.
