A company affiliated with Texas-based investment management firm L&B Realty Advisors has purchased a pair of office towers in Boca Raton for $23.75 million. The Glades Twin Plaza office has two 50,000 square foot buildings surrounded by a parking lot. Located at 2300 Glades Road, the property has been sold five times since being built in 1982, but has never traded lower than the $5.9 million it went for in 1993. The seller, which has ties to the BlackRock Property fund, bought the building in 2006 for $25.6 million.
