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Coral Springs Executive Tower Trades for $6.5M

Pimo Capital Acquires 80,000-SF Office Tower in Short Sale
March 30, 2011
Pimo Capital LLC acquired the office building at 210 N. University Dr. in Coral Springs, FL from Coneca Properties, Ltd. for $6.5 million, or about $81 per square foot.

The property is a nine-story, 80,380-square-foot building constructed in 1985.

The property transferred as a short sale, with the seller having a $9.3 million balance on its original loan for the property.

Bill Griffin of Coneca Properties, Ltd. represented the seller in-house. The buyer was not represented, and will retail Coneca Properties to continue leasing and management of the property.

For additional information, please see CoStar COMPS #2071723.

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