The three-story office building was built in 1938 as the Webbschool, and converted for office use in 1986 with a $4-millionrenovation. The property won the "Historical Building of the Year"award of the Building Owners and Managers Association in 1987.
Allegiance Capital Partners of New York City will be handlingday-to-day responsibilities at the property. Newmark and Co. RealEstate has been retained as the exclusive leasing agent.
"We hope to fill a void in the market for equity capitalparticipation in acquisitions of $15 million and less, and put ourcapital to work with partners who are strong real estateprofessionals in their own right," says George Yerrall, managingdirector of RiverOak Investment.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
