During that four-year period, the selling price of the 125,000-sf structure rose more than 125%. Rents in the building, which is 95% occupied, also rose, from $18 to $20 per sf in 1996 to more than $40 per sf.
"We are very pleased that each of these owners was confident that we could achieve the highest price possible at the time they purchased and sold the building," Cohen says. The two have been partners for the past 20 years.
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