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INDIANAPOLIS-Harbor Group International of Norfolk, VA has sold the 625,000-sf National City Center office building Downtown to HRPT Properties Trust of Newton, MA for upwards of $74 million, according to local sources. The property was 96% occupied at the time of sale, though Simon Property Group will vacate 175,000 sf (28% of the building) late next year in favor of a new 300,000-sf building it is having developed across the street. Built in 1977, National City Center comprises twin towers connected by a 16-story glass atrium lobby. In addition to Simon, major tenants include National City Bank’s Indiana headquarters, the Supreme Court of Indiana, and the Indiana Court of Appeals.Harbor Group and CB Richard Ellis, the brokerage firm involved in the transaction, declined to confirm the purchase price. Local sources in a position to know tell GlobeSt.com the purchase price was “just under $75 million.” Harbor Group acquired the building in 2001 for $59.7 million.John Merrill, Jeff Dunn and John Vandenbark of CB Richard Ellis brokered the transaction for Harbor Group. HRPT owns 44.15 million sf of lettable space in 375 properties. About 275 of the properties are office properties and the remainder consists of industrial properties. Harbor Group owns about $1 billion worth of properties throughout the US.

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