CP Group Secures Global Headquarters Relocation of Quantum Computing Pioneer D-Wave to Its Boca Raton Innovation Campus (BRiC)
CP Group, an owner-operator of office properties across the Sunbelt, along with DRA Advisors, today announced it has signed a landmark lease agreement with D-Wave Quantum Inc. (NYSE:QBTS), the only dual-platform quantum computing company, that provides annealing and gate-model systems, software, and services. D-Wave will relocate its global headquarters and establish a major U.S. Research and Development (R&D) facility at the Boca Raton Innovation Campus (BRiC), the historic 1.7-million-square-foot technology hub originally built by IBM.
The relocation from Palo Alto, California marks a significant milestone for South Florida's burgeoning tech ecosystem, as D-Wave joins a roster of world-class innovators at BRiC. The move is supported by a separate $20 million commitment from Florida Atlantic University (FAU) to purchase and install D-Wave's Advantage2™ annealing quantum computer on its nearby campus, further solidifying the region's position as a global leader in quantum research and workforce development.
"D-Wave's selection of BRiC for its global headquarters represents the capstone of our eight-year effort to transform this historic site into the premier destination for technology and life sciences in the Southeast," said Angelo Bianco, Founding and Managing Partner of CP Group. "By providing the mission-critical infrastructure required for quantum R&D along with unsurpassed amenities for our tenants, we equipped BRiC to house the technologies and people that will define the next century."
CP Group's recent $100 million capital improvement program at BRiC has transformed the campus into an amenity-rich destination, including an on-site wellness center run by Boca Raton Regional Hospital; the addition of two coffee shops and an autonomous grab-and-go store; a revitalized dining and banquet hall; flex indoor/outdoor event space available for rent; a parking garage with 1,100 spaces, and more.
The completed renovations delivered the tailored infrastructure needed to support D-Wave's operational needs. This investment provided the specialized logistics, unrivaled resilience, and redundancy essential for the reliability and continuity of quantum computing operations.
"Florida represents one of the fastest growing technology ecosystems in the United States, and as such it was the ideal choice for our new corporate headquarters and U.S. R&D facility," said Dr. Alan Baratz, CEO of D-Wave. "The state offers a rich scientific and educational environment, a growing pool of highly skilled tech talent, and a vibrant spirit of innovation that made it attractive to D-Wave. With our new headquarters in Boca Raton at such a historic property known for innovation, we are proud to continue to support the legacy of this iconic campus."
This lease follows a record year for BRiC, which saw over 300,000 square feet of leasing activity in late 2025 alone, driven by the success of its worCPlaces spec suite program and its evolution into a mixed-use "town center" featuring on-site wellness, dining, and retail.
About CP Group
Founded in 1986, CP Group is a vertically integrated commercial real estate firm and value-add investor with deep market knowledge across the Sunbelt. The firm has acquired, repositioned, and operated over 170 office and mixed-use properties, totaling more than 64 million square feet and valued at over $8 billion. The firm applies its market expertise and integrated operations to deliver experience-driven environments that support tenant retention and maximize asset value. CP Group maintains offices in Atlanta, Boca Raton, Dallas, Denver, Jacksonville, Miami, and Washington, D.C. For more information, visit CPGcre.com.
About DRA Advisors
DRA Advisors LLC is a New York-based registered investment advisor with approximately 100 employees that specializes in real estate investment management services for institutional and private investors including pension funds, university endowments, sovereign wealth funds, foundations, and insurance companies. Since DRA's inception in 1986, the firm has opened additional offices in Miami and San Francisco and has acquired approximately $42 billion of real estate. Its acquisitions include over 100 million square feet of industrial, 87,500 multifamily units, 90 million square feet of retail, and 66 million square feet of office. As of September 30, 2025, DRA had $11.6 billion in gross assets under management. http://draadvisors.com.
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