In these turbulent times, it's an accomplishment to sell an office building, Culshaw says.
"But it is a well-leased building," Culshaw tells GlobeSt.com. "We did not get quite as much for this building as we did the others, but we're not that many miles away either. Of course, you would always like to get more, right? I think it was a good deal for us and a good deal for Rreef. They have a good asset. It's a win-win situation."
Peter Savoie of Cushman & Wakefield handled the transaction.
"One-hundred-and-fifty-five dollars per sf is a good price," Savoie tells GlobeSt.com. "It's 93% leased to good tenants. And we have another lease out there that will bring it to 100%. I'm quite confident that deal is going to be signed.
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