Ok. In this case lets do it a bit differently.
Type the word like this: Select the Type tool and click once on the screen. Type your text. This makes text on a path instead of in a text box.
Now make your box/frame.
Select both the text and the frame.
Open the Window > Align panel..
Click once on the text.
Now click on the centering icons in the Align panel. The text will stay but frame moves.
