Waisbrod tells GlobeSt.com that finding a buyer for the property was challenging. The buyer had to assume an existing mortgage on the property, and therefore had to come up with a 25% down payment, according to Waisbrod.

"[Blair] has other properties in the area, and they liked the location of 200 Sheffield," says Waisbrod. "It's a good property in a good area."

The property, also known as the Diamondhead Building, is located at the intersection of Route 22 and Mountain Ave. Diamondhead is a three-story masonry elevator class B office building with onsite parking for approximately 450 cars. Blair Realty plans to make numerous capital improvements, including repaving the parking lot, renovating the lobby and café and enhancing the landscaping. At closing, the property was 90% leased with tenants that included the Labor Department, the IRS and the law form of Zucker, Goldberg & Ackerman.