Hamid Soroudi of Charles Dunn Co., who represented both the buyer and the seller, tells GlobeSt.com that the new owner is remodeling the property and foresees upside potential by boosting the occupancy of the building, which was 32% empty at the time of the sale.
The office building is a four-story, steel frame structure that was built in 1985.
Despite a slow time in the economy and a corresponding slump in the office market, Soroudi says, the property sold for very near its asking price.
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