Ex-Rexall Sundown Chief Buys Three South Florida Towers from CarrAmerica for Estimated $93 Million

BOCA RATON-Trophy office properties in South Florida are commanding trophy prices in the $150-per-sf-range these days. For example, a partnership headed by former Rexall Sundown CEO Carl DeSantis paid Washington, D.C.-based CarrAmerica an estimated $93 million or about $147 per sf for a total 632,167 sf in three buildings.

The DeSantis group gave leasing contracts at the Peninsula Plaza and Peninsula Executive Center, both in Boca Raton, to Grubb & Ellis Co. The contract for Presidential Circle in nearby Hollywood, FL went to Trammell Crow Co. DeSantis sold his Boca Raton-based Rexall Sundown in May to Royal Numico for an undisclosed price.