Interface Properties buys Fountains Center in west Boca for $40M

Interface Properties, a Boca Raton investment firm, has paid $40 million for Fountains Center, a 189,542-square-foot medical and office campus at 7000 to 7700 W. Camino Real in west Boca Raton, at the corner of Powerline Road and Camino Real.

Why it matters

National office capital is still writing down Class A towers, but a 95% leased, medical-anchored suburban campus in South Florida just traded at a price that says local buyers see real, stabilized value in the right rent roll. Fountains Center is not a speculative office bet. It is seven low-rise buildings built in the 1980s, roughly half its space leased to medical users including the University of Miami Miller School of Medicine, alongside bank branches for CitiBank and Truist. That tenant mix, not the office label, is why it commands a premium over distressed towers and why a Boca Raton buyer wrote a $40 million check for it.

The numbers

Interface paid $40 million, about $211 per square foot across the 189,542-square-foot, seven-building campus, which is 95% leased. Palm Beach County property records confirm the price through a warranty deed recorded May 28, 2026 under OR Book 36566, Page 837. Those same records show the parcels changed hands once already this year, for $27,997,200 in a deed recorded February 19, 2026, a roughly 43% jump in about three months. Interface financed the purchase with a $31.75 million acquisition loan from City National Bank, arranged by Berkadia, that will also fund a capital improvement program covering facades, landscaping and the property’s signature fountains.

What’s next

Watch whether Interface files permits for the 21,000 square feet of undeveloped, already-entitled land on the site, and whether the capital improvement work lifts occupancy past 95% given the medical and bank anchors already in place. For west Boca Raton, this deal sets a fresh, dated comp for suburban office carrying real healthcare and financial tenancy rather than speculative space.