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NORTHBROOK, IL-Allstate Insurance Co. has sold two office properties for $49.3 million. The properties total 391,346 sf, and are located in St. Petersburg, FL and Brookfield, WI. The insurance provider occupies approximately 50% of the rentable office space and will lease that space back from the new owners.

In St. Petersburg, the Carillon complex is a three-building cluster of office properties totaling 308,045 sf. Located at 740, 780, and 800 Carillon Parkway, the buildings sold to Boston-based TA Realty Associates, for $38.4 million, or $125 per sf.

In Brookfield, the 83,301-sf building at 555 W. Executive Dr. was sold to Bellevue, WA-based Towne Realty for $10.9 million, or $131 per sf. Allstate will lease back the 50% of the building that it currently occupies.

William M. Fausone, principal and COO; and Kevin Gazley, senior vice president, both with Rosemont-based Colliers Bennett & Kahnweiler Inc., negotiated the sale of two office properties on behalf of Allstate Insurance Co.

Since December of last year, the Colliers team of Fausone and Gazley completed the sale/leaseback of three triple net-leased properties to Capital Lease Funding totaling nearly 400,000 sf on behalf of Allstate Insurance. The buildings are located in Charlotte, NC; Roanoke, VA; and Cochran, PA. Also completed was the sale of a 193,337-sf multi-tenant office property in Bothell, WA to CarrAmerica.

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