Venture X recently opened its first coworking space in Boca Raton, FL. The coworking operator leased the top floor of the office complex at 1489 W. Palmetto Park Road in August 2024, adding 30,000 square feet to its portfolio. Derek Baker of Colliers represented Venture X in the leasing agreement, while Joe Freitas, John Criddle and Max Pawk of CBRE spoke for Grover Corlew, the owners of the building.
The new shared workspace is part of Palmetto Central, a two-building office campus just east of I-95 near downtown Boca Raton, totaling almost 87,500 square feet. Grover Corlew — a real estate investment management company that focuses on acquiring, transforming and operating a diverse set of properties — acquired the property in March 2016.
A $60 million renovation is currently underway. It includes modernizing the elevators and other mechanical systems; installing EV charging stations; upgrading the façade of the building; and updating the new Venture X space with floor-to-ceiling, hurricane-impact windows and private balconies. Grover Corlew also fully renovated the common areas, upgraded the restrooms and added a tiered water feature at the main entrance.
Other tenants of the building are UHealth Boca Raton, a University of Miami Health System clinic occupying 17,000 square feet since late 2024; as well as Hair Club; Gilbane Building Company; and Texas Instruments.
Although Venture X just made its debut in Boca Raton, it’s no stranger to the Florida coworking market. It also has spaces in other top locations in the state, such as Miami, Orlando and Naples, to name a few.
