(Read more on the TIC market.)

DARIEN, IL-Triple Net Properties LLC, based in Santa Ana, CA, has acquired the Darien Business Center, which consists of four office buildings at 7955, 8141, 8201 and 8205 S. Cass Ave. Triple Net acquired the business center on behalf of tenant-in-common investors from SMII Oak Creek/LP LP, which is a subsidiary of KBS Realty Advisors, says Dan Prosky, managing director for healthcare properties for Triple Net.

The sales price was not disclosed but was reportedly $29 million, or about $165 per sf. A cap rate was not disclosed. Gary Nussbaum, with Transwestern, represented the seller. La Salle Bank NA provided the financing for the sale, which was arranged by Kirk Danley and Eric Tupler, both with CBRE | Melody.

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