CBRE Capital Markets arranges $46 million sale

Lyons Tech Portfolio changes hands

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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 mi...