North 40 office portfolio in Boca Raton trades for $64M

• JLL completes $64 million sale of North 40, a 354,376 SF office portfolio in Boca Raton, Florida

• Related Ross purchased the asset from sellers, Mainstreet Capital Partners and Partners Group

MIAMI, Oct. 20, 2026 – JLL Capital Markets announced today that it has completed the $64 million sale of North 40, a 354,376-square-foot office portfolio in Boca Raton, Florida.

JLL represented the sellers, Mainstreet Capital Partners and Partners Group, a leading global private markets firm, acting on behalf of its clients, in the sale of the assets.

North 40 comprises two office buildings totaling 354,376 square feet across 23.1 acres. Originally delivered between 1983 and 1985, part of the properties underwent comprehensive renovations between 2014 and 2018, with additional capital improvements completed in 2024-2025, including a new tenant amenity center featuring shared kitchen, bar, seating areas, conference rooms and fitness center. The portfolio is currently 74% occupied.

North 40 features exceptional connectivity, positioned less than half a mile from Interstate 95 and the Tri-Rail commuter train station. The properties are strategically located at the intersection of Congress Ave and Yamato Road in the Park at Broken Sound, Boca Raton's premier "live-work-play" address.

JLL's Capital Markets Investment Sales and Advisory team representing the sellers was led by Hermen Rodriguez, Matt McCormack and Ike Ojala. Patrick Salata, Blake Koletic and Hunter Smith supported the transaction.

"This transaction demonstrates the continued appetite from institutional investors for well-located office assets in South Florida's highest-quality submarkets," said Rodriguez. “The offer reflected both the quality of the assets and the development optionality the site provides."

"By bringing this property back under shared ownership with BRiC, this milestone transaction further provides the opportunity to help shape what will be one of the most dynamic and transformative chapters in Boca Raton and Palm Beach County history,” said McCormack.

“We quickly recognized the strategic potential of this site and added value during our hold through improving amenities and modernizing spaces. This successful sale comes as we continue to refocus our direct investing activities on sectors such as industrials and residential, where we see attractive opportunities in the current market," said Henrik Orrbeck, Global Co-Head of Real Estate at Partners Group.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

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JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 112,000 as of June 30, 2026. For over 200 years, clients have trusted JLL, a Fortune 500^® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

Based in Fort Lauderdale, Mainstreet Capital Partners is a real estate investment and management firm specializing in providing value-added returns through acquisition, development and repositioning of office, industrial and multi-family properties.

Partners Group is one of the largest firms in the global private markets industry, with around 2,000 professionals and over USD 186 billion in assets under management globally. The firm has investment programs and custom mandates spanning private equity, private credit, infrastructure, real estate, royalties, and special opportunities. With its heritage in Switzerland and primary presence in the Americas in Colorado, Partners Group is built differently from the rest of the industry. The firm leverages its differentiated culture and its operationally oriented approach to identify attractive investment themes and to transform businesses and assets into market leaders. For more information, please visit www.partnersgroup.com or follow us on LinkedIn.