Located at 600 Townsend St. East, the three-storybrick-and-timber building with underground parking was built in1908 and fully renovated in 1985. The building is approximately 97%leased. The largest tenant is ReadiSuite, an executive suitescompany whose lease runs into 2011. Daniel Cressman, EdwardSuharski and John Jensen of Grubb & Ellis in San Francisco hadthe disposition assignment.

Flynn president Greg Flynn tells GlobeSt.com he acquired thebuilding in 1996 for $4.8 million. At the time, it was being usedas a contract furniture showroom. "It was largely empty," he says."We repositioned it as an office building."

When asked why he chose now to liquidate the asset, he says theownership entity was an old partnership and prices are high rightnow. "It was a good time to sell; it's almost a ridiculous gain,"he says. "But the buyers did not overpay; we were just lucky enoughto buy when the market was terribly distressed."