Vision Properties Buys Aetna-Anchored Office Building for $58M
By Jeff Ostrowski October 15, 2021 5:23 pm
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The Offices at Plantation Walk, a newly renovated building in a mixed-use property in Broward County, has a new owner.
Vision Properties of Tampa paid $57.5 million for the 173,193-square-foot office building, according to CBRE (CBRE)’s capital markets division. Encore Capital Management of Boca Raton was the seller.
The property, at 261 North University Drive, is 92 percent leased and has a five-story parking garage. Tenants include health care company Aetna, whose name is atop the seven-story building.
Tampa-based Vision Properties took a $37.4 million mortgage from Synovus Bank, which closed Thursday, according to public documents. The office building at Plantation Walk recently underwent a $15 million renovation. Work included a redesigned lobby, new windows, elevator upgrades and refreshed bathrooms, CBRE said.
“The seller completed an outstanding renovation project that helped to attract a strong list of national and regional tenants to the project,” Christian Lee, a vice chairman at CBRE, said in a statement.
In addition to Lee, CBRE’s José Lobón and Marcos Minaya and Jay Adams of Newmark (NMRK) brokered the transaction.
Jeff Ostrowski can be reached at jostrowski@commercialobserver.com.
