Gary Carr and Russell Ingrum, executive vice presidents in theDallas office of CB Richard Ellis, had the listing. According toCarr, there was a lot of competition for the property from bothprivate and institutional investors. "It's a great urban infillproperty, very well located in the Park City area," he says.

This marks the third time the building has sold since 2000. In2002 Mack-Cali Corp. sold it to Brookview Properties LP, a Dallasinvestment group, as part of a five-building portfolio that wentfor $34.7 million. Brookview sold it in 2004 to a nonprofitcorporation managed by KBS for an unknown price, but its 2006appraised value was a bit over $20 million.

PM Realty asset manager Lee Waters calls the property a veryattractive asset. "First of all, it's a very nice building. Andit's an absolutely wonderful location, catering to high-end tenantswho want an office close to home. We did a survey and found most ofthe tenants live within three or four blocks."