Bill Graham, with Sperry Van Ness in Dallas, tells GlobeSt.comthe Riverbend property, located just off Interstate 35 at 1221Riverbend Dr., drew about 10 offers. A high bid by Chicago-basedJunior Shu won the keys to the two-story building. Graham, whodeclined to reveal the sale price on the building, says theproperty, which is set on 5.81 acres and 71% leased to SilverleafResorts, was on the market for $2.2 million.

Silverleaf a developer of timeshare units which has itsheadquarters in the building, has five years remaining on its leaseand is the property's only tenant. Dave Brackney of LJ Partnersrepresented the buyer.

Graham, who handled the transaction for the local seller, saysMerit has put a portfolio of area office properties on the marketfor $68 million and expects to close on that sale within the nextfew months. Properties in that portfolio include thethree-building, 248,770-sf Merit Center on LBJ Freeway and thetwo-building, 158,000-sf Parkway Plaza, located on the Tollwayimmediately north of the Galleria.