Class-A Plantation Office Complex Trades

The Royal Palm at Southpointe office complex in Plantation has traded for $128 million, or about $275 per square foot.

Duke Realty Corporation acquired the office complex, located at 900 and 1000 South Pine Island Road, for $100.4 million in August 2010.

Duke’s sale of the site, which has more than 465,000 square feet of office space, was recorded on Monday.  TR Royal Palm Corp. is the buyer. The company is managed by Chicago-based LPC Realty Advisors, an investment advisory affiliate of Lincoln Property Co.

The Hogan Group developed Royal Palm I in 2001 and Royal Palm II in 2007.

Source: The Real Deal