RYE, NY-The International Corporate Center is changing hands to the tune of $30 million. Faros Properties and Gould & Co. are grabbing the 170,973-square-foot office property at 55 Theodore Fremd Ave.

The Gateside Corp. is divesting itself of the three-building center which boasts a five-story glass rotunda lobby, which connects the three office pieces. Sitting on a 17.1-acre site, the class A is home to anchor tenants Bank of Tokyo-Mitsubishi, Mitsubishi Imaging and Greenbriar Equity Group, among others. The property is 82% leased, currently, but one of the tenants is rolling out of its lease next year, leaving the property in the low 70%-range, explains Andrew Scandalios of HFF, who repped Gateside Corp., along with Jose Cruz, Jeffrey Julien and Kevin O'Hearn.

The purchase is a "lease-up play," he explained, as the property was sold as a personal divestiture to the JV. The new owners are planning some upgrades to the lobby and corridors and then plan to fill the property, of which they are "very optimistic," Scandalios notes.