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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.