MIAMI—Peninsula Executive Center, a 187,784-square-foot, class A office property in Boca Raton, FL, has traded hands. The sale price: $59.75 million.

HFF marketed the property on behalf of the seller and procured the buyer, C. Talanian Realty Co. HFF also worked on behalf of the new owner to secure the $33.5 million long-term, fixed-rate financing through Principal Real Estate Investors. The HFF team was led by senior managing directors Chris Drew and Hermen Rodriguez, director Ike Ojala, associate director Brian Gaswirth and associate Matthew McCormack.

“This sale is a great example of the continued demand that we are seeing from sophisticated buyers for high-quality, well located suburban office properties in South Florida,” Drew tells GlobeSt.com. “This acquisition marks the first major investment in South Florida by C. Talanian Realty Co.”