Golden East Investors Buys One Boca Place

The commercial office complex in Boca Raton sold for $78.9 million.

Updated on Oct. 23, 2026 in Commercial

Golden East Investors Buys One Boca Place

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Golden East Investors has completed the purchase of the One Boca Place office complex for $78.9 million. The office property was sold by the CP Group, which will remain on-site as the property manager.

Why it matters

The transaction highlights current activity in the local commercial real estate market involving older Class A assets. The sale price falls below the current tax-assessed value of $91 million for the 7.8-acre site.

The 278,000-square-foot facility, built in 1986, currently lists office space at $52 per square foot. This is lower than the $62 per square foot average for Palm Beach County Class A office space recorded in the third quarter of 2026.

The players

Golden East Investors

This investment firm is the new owner of the One Boca Place office complex.

CP Group

Formerly known as Crocker Partners, this firm manages commercial properties and recently divested this office site.

City National Bank of Florida

This financial institution provided the $82.1 million loan used to facilitate the purchase of the property.

The details

The acquisition of the 278,000-square-foot complex at 2255 West Glades Road was supported by an $82.1 million loan from City National Bank of Florida. CP Group originally acquired the property in 2014 for $76.4 million.

The office building and parking garage were constructed in 1986.
CP Group purchased the office property in 2014.
Crocker Partners rebranded as CP Group in 2021.
Average asking rates for Palm Beach Class A offices were reported in Q3 2026.
CP Group offloaded two other office complexes in September 2026.

Culture Shift

This property transaction reflects broader trends in the commercial real estate sector, where legacy office buildings face downward valuation pressure. The sale price aligns with institutional efforts to adjust asset portfolios to meet current market demands in Palm Beach County.

For current office tenants, the change in ownership likely will not alter immediate lease terms as CP Group remains the manager. Future office seekers may find the property's listing price of $52 per square foot competitive relative to wider county averages.

The takeaway

Commercial real estate investors are currently navigating a market where legacy properties are frequently trading at values below government tax assessments. Prospective tenants should monitor how new ownership adjusts property maintenance or lease terms at this long-standing Boca Raton site.