Triple Net Properties bought the three-building, four-story complex, located at 2600, 2650 and 2700 N. Military Trail, from America's Capital Partners LLC. The complex, built between 1989 and 1999, also includes 859 parking spaces.
The complex is 95.9% occupied. Tenants include Gap Inc., Liberty Mutual Insurance, EMC Corp., American Express and Wachovia Bank. The property last sold for $33.7 million in June 1999, according to the Palm Beach County property appraiser's office.
Jay Caplin, a senior director of the Investment Sales Group of Cushman & Wakefield, represented America's Capital Partners in the most recent transaction. Caplin also represented the seller in three other recent local building sales, which--with the Fountain Square sale--total $116.4 million.
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