The parties involved declined to disclose the sale price. However, a source with knowledge of the transaction tells GlobeSt.com that the final price tag in the $10-million range. That number factors out to just under $93 per sf.

"This strategic acquisition by Arc Realty Ventures represents an excellent opportunity," Fleming tells GlobeSt.com. "This is a quality asset with historically high occupancy rates." He says the new owner is set to launch a lobby renovation, among other building upgrades and improvements.

Located on a five-acre site just off Interstate 287, the asset serves as the world headquarters for upscale luggage, business case and accessories maker Tumi Inc., and is commonly referred to locally as "the Tumi Building." Tumi combines with Commerce Bankcorp, which uses its space as a loan processing center, to occupy about 85% of the building. The Harrisburg, PA-based engineering firm Gannett Fleming Inc. also maintains a regional office here.

Built in 1987, 1001 Durham Rd. has an unusual footprint combining circular and rectangular portions, with Tumi occupying the distinctive circular section. Tumi's space is built out with a series of floating floors and open staircases. In 2002, the now-former owner launched a repositioning of the building, a project that included tearing down the walls and replacing a section with pre-built office suites. Cushman & Wakefield was brought into market the space.