Currently the building is totally vacant since the previous owner was in the process of renovating the 155,000-sf building into residential condominiums, after having owned the property for several years.
"The building will undergo a full renovation and will be upgraded to a modern office building." Berger tells GlobeSt.com, "The buyer sensed an opportunity to capitalize on the current dearth of space in the area and will add a much needed block of space to the market."
The off-market deal closed in less than a month; and Berger believes a variety of tenants will be interested in locating in the building once it reverts to an office facility. "The opportunity to purchase a completely vacant office building in this market is very rare and the property and location will appeal to a variety of tenancies."
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