BusinessSaturday, November 7
Mizner Park has been bought back by the company that built it
The 5AM Delray Beach team
If Mizner Park is your go-to for dinner or a stroll, new owners are coming, and they know the place. CP Group developed the 30-acre Boca Raton district between 1991 and 1999. It teamed up with The Georgetown Company, ACRE and StepStone to buy it from Brookfield Properties, and the price hasn't been made public.
- Planned: updated facades, hardscaping, landscaping and wayfinding
- Apartments: ACRE will renovate the 272 rentals
- Retail: Georgetown will rework tenant mix and streetscape
- Financing: provided by Blackstone
Mizner Park's 838,840 square feet are split among apartments, retail and offices
Sources: The Boca Raton Tribune, The Real Deal
View as table
| Value | |
|---|---|
| Apartments | 294K sq. ft. |
| Retail | 276.5K sq. ft. |
| Offices | 268.4K sq. ft. |
Tom Crocker, CP's founder, built the center in 1991. Managing Partner Angelo Bianco called the purchase "a homecoming for us." Retail leases in the east Boca submarket are asking an average $40 per square foot, on par with the Delray Beach and west Boca submarkets.
Mizner Park returned to CP after Brookfield's 2018 purchase
- 1991CP Group begins developing Mizner Park in phases, finishing in 1999.
- 2018Brookfield acquires Mizner Park in its $9 billion General Growth Properties purchase.
- Sept. 2026CP sells the 124-acre Boca Raton Innovation Campus to Related Ross.
- Oct. 2026Golden East Investors buys One Boca Place from CP for $78.9 million.
- Nov. 2026CP-led venture buys Mizner Park back from Brookfield.
Sources: The Boca Raton Tribune, The Real Deal