Vision Properties Buys Aetna-Anchored Office Building for $58M

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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’s capital markets division. Encore Capital Management of Boca Raton was the seller.

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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 brokered the transaction.

Jeff Ostrowski can be reached at jostrowski@commercialobserver.com.