The Golub/Investcorp bought the 41-acre property, which alsoincludes two garages, in February 2004 for $60.2 million, sourcessay. Michael Newman, president and CEO of Golub, tells GlobeSt.comthat they believe in the buildings. "We spent a lot of time andeffort on the property," he says. "When we took it over theoccupancy was in the high 60% range, and we've taken it to 93%. Wethink it's the best building in the market. It's very recognizable,is very stable and has nice amenities." Golub will continue tomanage the building.

Building tenants include Northrup Grumman, Travelers Insuranceand Healthways, and retail shops such as Dierdorf & Hart'sSteak House, Coldstone Creamery and Panera Bread. Lease rates atthe building, about 30 years old, are in the mid-$20 range per sf,Newman says.

He says Investcorp felt it had been owner long enough in abuilding that had reached a high lease point. "The profit fit inwith their plan," Newman says. "The sales market was decent enoughfor them to go. We think there's still an upside to go, we think wecan bring the project to another level."