Fifteen companies own space in the 29-story building, located between 37th and 38th streets, and much of the space is owner-occupied, according to John Poblocki, Grubb & Ellis vice president and director of management services. Poblocki, who will be spearheading management duties at the property, says an in-depth positioning strategy for the building is what put Grubb over the top.

"We brought in additional people who go beyond just property management who are consulting with the owners on positioning the building within the marketplace," Poblocki tells GlobeSt.com. "The other agencies didn't see this as an investment opportunity. We did. Most of the tenants in the building are owners and this is a major investment in their portfolios."

Poblocki says the new management team at the fully occupied property will implement a plan that addresses several asset-management issues including tenant services, security, "and the overall condition of the building, vis a vis other class A assets in the market." Working with Poblocki are regional controller Tim Perry, portfolio manager John Mancini and Bart McDade, a director of operations, among others.