The 28-story property, built in 1983, sits on 1.2 acres, and hasa 509-space parking garage. Multi Capital Group, a real estateinvestment banking firm, arranged financing for the purchase withCIBC World Markets. KBS reportedly bought the building in 1997 for$53 million, and received a much higher sales price than the $60million that some analysts expected.
A spokeswoman with Multi Capital tells GlobeSt.com that theproperty is 92% occupied. Eaton takes up about 45% of the buildingand represents about 56% of the property's base rental revenue, shesays, and has a remaining lease term of about seven years. Othertenants include First American Title Corp. and Hyatt Legal PlansInc. The spokeswoman did not divulge the name of the buyer.
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