CBRE Capital Markets has arranged the $46 million sale of Lyons Tech Portfolio in Coconut Creek, Fla.

The portfolio consists of five institutional grade office and flex properties totaling 310,779 square feet located in the prestigious Lyons Technology Park.

Christian R. Lee, vice chairman of CB Richard Ellis’ Institutional Group, Scott O’Donnell, senior vice president CBRE Private Client Group, Charles J. Foschini, vice chairman and Christopher Apone, vice president of the of South Florida CBRE Debt & Equity Finance team, represented the seller, Butters Construction and Development, in their $46 million disposition to Principal Global Investors.

Principal Life has purchased 1 million square feet of industrial and office space from Butters and its partners over the last six years with CBRE, being the broker on all the transactions. The Coconut Creek transaction is one of the biggest deals which Principal has made with Butters, the company said.

Principal had paid $35 million for three Westpoint Center distribution buildings from Butters last fall and in 2002, the life insurance company paid $36.17 million to companies owned by a Butters partnership for three warehouses totaling 420,000 square feet in Hollywood and Davie.

Lyons Technology Park is a business campus in the Coral Springs submarket of Broward County.

The Lyons Tech Portfolio is 94 percent leased to 108 tenants. Major tenants include Steel Components, DEL Management, Motion Point Corp, and Alert Site.

Property features include warehouse space with 18- to 24-foot clear heights, hurricane-grade impact windows and doors, a combination of dock-high and drive-in doors, and ample surface parking.


What’s your opinion? Leave your comments below or send a
letter to the editor.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription