CORAL SPRINGS, FL-The Towers of Coral Springs, two six- andfour-story glass office towers spanning 75,344 square feet, soldfor $9.7 million. The asset was in foreclosure.

Marc Strauss, vice president of Investments in the FortLauderdale office of Marcus & Millichap, along with seniorassociate Al Palacios of the Miami office, listed the deal onbehalf of the seller, a partnership and the original developer ofthe property. Andy Neiswenter, senior associate of the Miamioffice of Marcus & Millichap, represented the buyer, HallandaleBeach-based Beacon Realty Investments.

“Even though this building went into foreclosure, it wasproducing income,” Strauss tells GlobeSt.com. “A lot of buyerswanted the building for the loan value, but the seller wasn’twilling to let go on those terms. It took us almost 18 months toclose this deal as we maneuvered bankruptcy procedures.”