The complex has an aggregate of 61,613 sf and has recentlyundergone a capital improvement program, according to Grant Savage,VP in the Miami office of Grubb & Ellis' investment servicesgroup. He and Brian DiRienzo, a G&E VP in the same office,represented the seller, identified as PPP LLC. Savage says PPP LLCis a group of investors. Norman Nierenberg and Erroll Eisinger ofMiami-based N&E Equity, represented the buyer, also aninvestment group identified as Plantation Professional ParkLLC.

Savage says this is a strong office market, "and the parkprovides a stable income from medical tenants on long-term leases.In addition, it contains one acre of excess land that allows forfuture development of an additional 18,000 sf of medical officespace." The current rental rate in the park is approximately $15per sf, triple-net, according to Savage.