The seller was a joint venture of ING Clarion Partners and Taylor Corp. Michael Leggett of Cornish & Carey represented building ownership in the sale, which is reportedly part of a larger transaction. Leggett was not immediately available Wednesday for comment.

Bart Lammersen, the Staubach SVP who brokered Qualcomm's seven-year lease deal for the building in 2005, tells GlobeSt.com that Qualcomm may have been interested in owning the building because it has invested heavily in it, adding a wafer fabrication facility in 2006. It leased the space for the regional headquarters of Iridigm Display Corp., a handheld-device display specialist it acquired for $170 million that was running out of room in its Downtown San Francisco offices.

Ten months ago, in October 2007, Qualcomm paid $80 million for Kifer Corporate Center, a 320,000-sf, four-building low-rise campus in Santa Clara, saying it would use the space to consolidate a couple of its expanding South Bay offices. The seller, LBA Realty, acquired the 22-year-old campus empty in 2005 for approximately $46 million and proceeded to invest additional funds rehabilitating and repositioning the property. Lammersen also brokered that deal.