Coral Gables-based Flagler Real Estate Services LLC represented buyer Senaya Holdings, an affiliate of Elan. The seller was Norman Shapiro, former owner of Sunshine Kitchens, represented by ComReal Miami Inc.

Elan plans to put its corporate headquarters at the building in Sunshine State Industrial Park in October once upgrades are completed, moving from its current Pembroke Park location. The building is next to the Golden Glades Interchange, allowing quick access to Interstate 95 and Florida's Turnpike.

"In today's tight credit market, real estate professionals are collaborating more closely to negotiate and bring mutually beneficial deals to a close," Flagler broker Chris Sutton says. "In this particular transaction, the buyer and seller were able to close the pricing gap quickly, enabling the buyer to attain competitive financing for a prime location."