PARSIPPANY, NJ-The recent acquisition of 6 Upper Pond Rd. inhere, while certainly a boon for acquirer Pond Partners LLC, couldmean something more to the real estate industry. The73,450-square-foot, class A office building located on 5.67 acrestraded for $5.25 million after seller EBI LLC reduced theprice.

The deal may be a sign that buyers are becoming more realisticabout pricing--and that sellers are cautiously returning to themarket, says Scott Lippert, head of the real estate practice of lawfirm Pashman Stein LLC, which represented Pond Partners. “It’s niceto have a transaction,” Lippert told GlobeSt.com.

Talks between the two parties began in June, and the sale closedin November. Two main points were critical: Pond Partners could payin cash, and EBI cut its price. The company acquired the buildingfor $9.9 million in 1995. After a tax appeal reduced the assessedvalue to $8 million, EBI accepted the $5.25 million offer. “Theseare smart people, who made a business decision to accept the bid,”Lippert says. “There weren’t a lot of buyers to begin with.”