Entertainment Benefits Group pays $33.85M for SouthPark office building

Entertainment Benefits Group (EBG) paid $33.85 million earlier this month for a Class A office building that served as the longtime headquarters for CHET. 

Based in Miami, EBG maintains offices in Orlando, New York, Las Vegas, Los Angeles and Connecticut. The company one of the largest privately held travel and entertainment providers in the United States and operates websites such as TicketMonster and BestofOrlando.

EBG plans to move from its current offices at 5551 Vanguard St. and will take the third and fourth floors of the newly acquired 200 SouthPark Center Class A office building, according to people familiar with the deal. The company's current offices are being marketed for sale or lease.

Throughout the past three years, EBG has experienced substantial growth, both organically and through mergers and acquisitions. The original benefits platform, TicketsatWork, continues to grow year-over-year, and today offers its clients and members thousands of local and national exclusive discounts and access to special offers in entertainment and travel.

In 2014, EBG merged with Plum Benefits, an exclusive corporate entertainment benefit service owned by the Shubert Organization, which launched the EBG Corporate Programs Division. In 2015, EBG added Working Advantage, a premier employee deals portal, as the third brand extension under its Corporate Programs Division. And earlier this year, entertainment and sports agency Creative Artists Agency announced a major investment and strategic alliance with EGG.

CHET,  a Brambles Limited subsidiary, was the sole tenant of the 200 building for 15 years but vacated in the spring to move into new a headquarters. The 4-story office building was completed in 1999 and features a total of 147,592 square feet with ample parking, some covered.

The seller, AEW Capital Management, completely renovated the property after the CHET move. The building was 50-percent leased at the time of the sale, with the largest tenant being Centene Corporation.

This is the second SouthPark Center office building sale in the last two months. Pacer Partners paid $28 million in November for the 700 and 800 buildings.

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