LHL had owned the four buildings--located at 8060 13th St., 7915 Eastern Ave., 7923 Eastern Ave. and 7981 Eastern Ave.--for the last 30 years. The 180,000-sf structure at 8060 13th St. is also known as the Gramax Heliport Building. It was developed in 1960 and has a 2003 assessed value of $2.7 million. Records show that the 15-story tower sold for $5 million. Unlike the other properties involved, the 94,000-sf four-story building at 7981 Eastern Ave. underwent a renovation, in 1979, 20 years after its development. Its value is $1.2 million and it sold for approximately $2 million. Finally, 7915 Eastern Ave. and 7923 Eastern Ave. carry separate addresses but are often considered a single property, as they are divided only by a mere six feet. Built in the late 1950s, they are 96,000 sf and 60,000 sf, respectively, and have a joint value of $2.6 million. They were sold for a combined $5 million.

"I've been tracking the properties for three or four years," Vanguard's Alan Zuckerman shares with GlobeSt.com. "The family finally decided they were interested in selling, so I was able to bring in a buyer." Finding a buyer would have been no simple feat had Zuckerman not kept such a close eye on the portfolio beforehand. "I sell properties that, as they say in the business, have a lot of hair on them," he explains. "There were a lot of issues. There were four office buildings that had been vacant for 10 years. And the property is in a residential area, so I thought it would be good to find someone interested in converting the commercial buildings to a multifamily property." The new owner, Gramax, plans to do just that. The company has been working with Maryland and Montgomery County officials to negotiate the transition of the property from office space to affordable residential units.