BusinessSunday, November 8
CP Group returns to Boca Raton's Mizner Park as part of a new ownership group planning renovations
The 5AM Boynton Beach team
If you've ever grabbed dinner at Mizner Park, the landmark has new owners. CP Group, The Georgetown Company and ACRE, with investment partner StepStone, announced the acquisition of the 838,840-square-foot property. CP Group originally developed it between 1991 and 1999.
Mizner Park covers 838,840 square feet
Floor area of Mizner Park, beside places you know
15 football fields would fit inside Mizner Park
Source: TAPinto Boca Raton
View as table
| Floor area | |
|---|---|
| Mizner Park | 838,840 sq. ft. |
| A football field | 57,600 sq. ft. (end zones included) |
| A Walmart Supercenter | about 180,000 sq. ft. |
The partnership plans to work with the City of Boca Raton and the community on a long-term revitalization strategy. Proposed improvements include facades, landscaping, signage, infrastructure, office common areas and the 272 apartments. Georgetown will help lead the streetscape and retail mix, and ACRE will oversee the residential side.
- Announced: Thursday, in a CP Group news release
- Walk to Brightline station: less than five minutes
- Next door: Boca Raton Museum of Art and Mizner Park Amphitheater
“Returning to Mizner Park is a homecoming for us, both as its original developer and as a Boca-born firm.”
The Boca Raton Regional Chamber applauded the deal. President and CEO Troy McLellan said the time is right for "a renewed vision, strategic investment, and a fresh approach."
Sources: TAPinto Boca Raton, The Boca Raton Tribune