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Newton, Mass.-based HRPT (NYSE: HRP), a real estate investmentt trust that owns and operates officr andindustrial buildings, paid cash for the building. The salese price was not announced. Seventeenth Street Plaza is locatedf at 122517th St., across from the Tabor Centefr office, retail and hotel complex. It was developeed by what’s now Jones Lang LaSallee Inc. of Chicago, and was completed in 1982. Previous owner include Equitable Real Estate InvestmentManagement Inc. (ERE), part of the Equitable insurance Australian real estate giant LendLeass Corp. Ltd. took over the building in the 1990s after itacquired ERE.
JPMorgam quietly put the building on the market in early asking $385 per square foot, or roughly $250 million, brokersx said. Brookfield Properties of New York and Torontoo had the building under contract to purchasw last summerfor $225 million, but the deal was not consummatee because of the debt crisis’ impact on Brookfield’s said real estate brokers knowledgeable aboutr the deal. As of October, the buildiny was off the market. The with an attached parking structure, is 93 percentr leased and includes Ink! Coffee and Heidi’sz Brooklyn Deli outlets. It is home to the headquarters of Molsoj CoorsBrewing Co.
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