The county currently leases more than 132,000 sf, or nearly 60% of the building. Other tenants lease about 34,000 sf, and approximately 60,000 sf is available. "This is an excellent deal for us," says Thomas Ellis, chairman of the county commissioners, in a statement. "With no room for expansion in the courthouse and being aware that other state counties are paying $100 million or more to expand their courthouses, it just made sense. We now have more room to grow."

AMC is in the process of switching strategies from owner/operator to a provider of equity and resources with operating partners in more diverse real estate sectors over a wider geographic area. In line with that transition, it put this asset, one of its few remaining legacy properties, on the market in mid-September.

"The county's desire to own One Montgomery Plaza and our desire to move away from properties without partners made this a perfect match," Ken Balin, president and CEO of AMC, tells GlobeSt.com. The building was completed in 1974. AMC acquired it for $19 million in 1998 and has invested $4 million in renovations.