TerraCap Management Announces Industrial Real Estate Acquisition of Boca Commerce Center in Boca Raton

BOCA RATON, Fla. — June 8, 2026 — TerraCap Management, a privately held investment firm headquartered in Naples, Florida, announced today the acquisition of Boca Commerce Center, a 70,927-square-foot multi-tenant industrial asset located at 1141 S. Rogers Circle in Boca Raton, Florida. The acquisition adds a fully occupied, 12-bay cross-dock industrial property to TerraCap's Florida portfolio.

Property Overview

Constructed in 1999, Boca Commerce Center is a cross-dock industrial asset comprising 12 bays and occupied by nine tenants at the time of acquisition. The property is currently 100% occupied and serves a diversified mix of industrial, service, and flex users. Its smaller bay configuration, dock-high loading capabilities, and modern clear heights are designed to accommodate a broad range of tenant types.

The property is situated within the Rogers Circle industrial submarket, an infill corridor in South Florida that TerraCap described as supply-constrained. The location offers direct access to Interstate 95, Florida's Turnpike, Military Trail, and key east-west thoroughfares connecting Boca Raton, Delray Beach, Deerfield Beach, and the broader South Florida region.

"The property sits in an affluent, high-barrier-to-entry submarket with favorable market fundamentals, limited industrial supply, and excellent regional connectivity," said Harrison Haber, TerraCap Senior Acquisition Analyst. "Boca Commerce Center aligns well with our strategy of acquiring functional and well-located industrial assets in high-growth and low-supply markets."

TerraCap's Investment Strategy

TerraCap Management has operated since 2008 and has invested in properties with an aggregate purchase price of approximately $3.2 billion, representing roughly 20 million square feet of commercial assets since inception. The firm maintains its headquarters in Naples, Florida, with additional offices in Tampa, Florida, and Denver, Colorado.

The firm describes its investment approach as thematic and macro-driven, evaluating markets based on factors including business formation, employment growth, and population growth. TerraCap states that it pursues deep value opportunities with upside and emphasizes operating assets directly to make decisions efficiently across its portfolio.

TerraCap's planned capital improvement program for Boca Commerce Center includes exterior paint, façade enhancements, upgraded landscaping, modernized lighting, parking lot improvements, and new signage. The firm also stated it intends to pursue operational efficiencies to strengthen the long-term positioning of the asset.

"Boca Commerce Center represents an attractive opportunity to acquire a high-quality infill industrial asset in what we believe to be one of South Florida's premier submarkets," said Baron Davis, TerraCap National Director of Acquisitions. "We believe the property's location, diversified tenancy, and functional design will continue to support leasing demand and long-term value creation. We appreciate the efforts of both the Penn Florida team and the LRM team during the transaction."

Transaction Details and Advisors

Mark Faeth of LRM Commercial Real Estate Advisors facilitated the off-market transaction and was subsequently hired as the leasing team for the property. Foundry Commercial was hired as property manager. Financial terms of the acquisition, including purchase price, price per square foot, and capitalization rate, were not disclosed.

About TerraCap Management LLC

TerraCap Management LLC is a privately held investment firm headquartered in Naples, Florida, with offices in Tampa, Florida, and Denver, Colorado. Since its founding in 2008, the firm has invested in commercial assets with an aggregate purchase price of approximately $3.2 billion and approximately 20 million square feet. The firm focuses on thematic, macro-driven investment strategies across Sun Belt and growth markets.

Sources: PR Newswire — TerraCap Management Acquires ~71k SF Industrial Property in Boca Raton, FL (June 8, 2026)