The four-star building was constructed by Rhythms NetConnections, which now is bankrupt. Rhythms reportedly spent $14 million to $15 million constructing the building, but never occupied it.
The bankruptcy court approved the sale, says Tim Miles, the Grubb & Ellis broker who represented Rhythms. He tells GlobeSt.com that the court didn't give any special preference to the fire district because it is a public agency.
Rick Giarratno, Greg Titus and John Fairbairn of Fairbairn Commercial Brokers represented South Metro.
Giarratno says that South Metro almost bought a class-B building in the Inverness Business Park that cost more than the Rhythms building. In addition, South Metro will be leasing two of the floors in the Rhythms building.
"It's definitely going to create an income stream for them,'' Giarratno tells GlobeSt.com.
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