WAREHOUSES SELL FOR $46M

COCONUT CREEK, FLA. — Des Moines, Iowa-based Principal Life has acquired five warehouse and office buildings, totaling 300,000 square feet, at Lyons Technology Park in Coconut Creek, from a partnership led by Malcolm Butters, for $46 million. The business park is located south of Hillsboro Boulevard at the intersection of Lyons and Johnson roads. Scott O’Donnell of CB Richard Ellis’ Boca Raton, Fla., office and Christian Lee of its Miami office were the sole brokers in the transaction and exclusively represented the seller.