The seller is Ridgefield, CT-based VitalWorks, a provider of healthcare practice management.
The lakefront, five-story building was completed in 1983. It is currently 100% leased, with PracticeWorks, a one-time affiliate of VitalWorks, occupying about 86% of the space under an estimated 10-year lease renegotiated at the time of the sale.
The PracticeWorks space is the United States headquarters of its British-based parent, which operates under the same name and claims to be the world's largest provider of dental technology.
VitalWorks will continue to occupy a small office in the building. Both companies were once affiliates of InfoCure, which took VitalWorks public in mid-2001.
Justin Parsonnet and Will Yowell of the Atlanta office investment group of Los Angeles-based CB Richard Ellis Inc. represented VitalWorks in the transaction.
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