The sale of the four-story property is part of the company'sstrategic plan to concentrate on high-growth markets in Dallas,Houston and Chicago. Younan acquired theproperty, which was 85% occupied at the time of the sale,in 2005 from Prudential for $19 million, as GlobeSt.com previouslyreported.

"At the time we acquired the property, the market was in theinitial stages of recovery," Younan Properties chairman and CEOZaya Younan tells GlobeSt.com. "We tried to buy other assets but itwas difficult because the fundamentals of the market had improvedso much that the competition for properties was strong and wecouldn't justify paying the prices other buyers were paying."

The property is located within the 5.5-million-sf, 180-acreMaitland Center submarket, seven miles north of Downtown Orlando.The sale generated a 34% IRR and 81% gross return to investors. CBRichard Ellis senior vice president Ronald Rogg represented Younan.The buyer, a partnership of Fort Lauderdale-based Stiles CapitalPartners, represented itself. Built in 1990, the building iscurrently 93% occupied with tenants that include Embarq andLifestyle Lifts. Building amenities include an onsite restaurantand gym.