The partnership most recently acquired 1500 Newell Ave., thelarger of the two sits that comprise the assemblage. The 1.3-acresite holds an eight-story, 51,343-sf office building and frontsboth Newell Avenue and South Main Street. The smaller site, 0.62acres, holds a retail strip center that fronts South Main and backsup to the creek.

The office building was sold by Sean Cooley, Mike Zylstra andForrest Gherlone of Cornish & Carey Commercial's local officeon behalf of Shaw Foundation Properties Corp., a Hong Kong-basedcharitable trust. The trust had owned the building since 1972, acouple of years after its completion.

The building was constructed with concrete and has a cementskin. Bank of America was the building's sole tenant during the1970s and '80s. Cooley tells GlobeSt.com the building wasmulti-tenanted in the early 1990s but is currently vacant while theowners determine whether it can be retrofitted and reused. Oneadvantage of reusing the building is its height, which at 105 feetis double the current limit, Cooley says.