Waisbrod tells GlobeSt.com that finding a buyer for the propertywas challenging. The buyer had to assume an existing mortgage onthe property, and therefore had to come up with a 25% down payment,according to Waisbrod.

"[Blair] has other properties in the area, and they liked thelocation of 200 Sheffield," says Waisbrod. "It's a good property ina good area."

The property, also known as the Diamondhead Building, is locatedat the intersection of Route 22 and Mountain Ave. Diamondhead is athree-story masonry elevator class B office building with onsiteparking for approximately 450 cars. Blair Realty plans to makenumerous capital improvements, including repaving the parking lot,renovating the lobby and café and enhancing the landscaping. Atclosing, the property was 90% leased with tenants that included theLabor Department, the IRS and the law form of Zucker, Goldberg& Ackerman.