Younan Properties Inc. has purchased Southpoint Executive Center, a 136,000-square-foot office building in Maitland, Fla.
This acquisition marks the first investment for Younan Properties in Florida.
The value of the transaction was $19 million.
Built in 1990 and located on a 9.5-acre lot at 151 Southhall Lane, Southpoint Executive Center consists of a four-story, class A office building, with amenities including a restaurant and gym.
At the time of sale, the building was 85 percent occupied with noteworthy tenants including: Ford Motor Credit, Sprint and Voit Brokerage Co.
Younan Properties represented itself in the acquisition, while CB Richard Ellis represented the seller, New York-based Prudential.
Woodland Hills, Calif.-based Younan Properties Inc. is a real estate investment group that acquires class A office properties throughout the United States.
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