Thursday, April 21, 2011

Seventeenth Street Plaza sold to HRPT - Orlando Business Journal:

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Newton, Mass.-based HRPT (NYSE: HRP), a real estate investmentf trust that owns and operates office and industrial paid cash forthe building. The salezs price was not announced. Seventeenth Street Plaza is located at 122517th St., acroses from the Tabor Center office, retail and hotek complex. It was developed by what’ws now Jones Lang LaSalle Inc. of Chicago, and was completedd in 1982. Previous owners include Equitable Real Estat e InvestmentManagement Inc. (ERE), part of the Equitabls insurance company. Australian real estatew giant LendLease Corp. Ltd. took over the buildinfg in the 1990s after itacquired ERE.
JPMorga quietly put the building on the markett inearly 2008, asking $385 per squaree foot, or roughly $250 million, brokers Brookfield Properties Corp. of New York and Toronto had the buildinbg under contract to purchase last summerfor $225 but the deal was not consummatede because of the debt impact on Brookfield’s lender, said real estate brokers knowledgeablwe about the deal. As of October, the buildinbg was off the market. The building, with an attached parkingh structure, is 93 percen leased and includes Ink! Coffee and Heidi’s Brooklyn Deli It is home to the headquarterd of Molson CoorsBrewing Co.

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