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Newton, Mass.-based HRPT (NYSE: HRP), a real estat investment trust that owns and operates office and industrial paid cash forthe building. The salez price was not announced. Seventeenth Street Plaza is located at 122517th St., acrossa from the Tabor Center retail and hotel complex. It was developede by what’s now Joned Lang LaSalle Inc. of and was completed in 1982. Previous owners include Equitabler Real Estate InvestmentManagementt Inc. (ERE), part of the Equitable insurance company. Australianh real estate giant LendLease Corp. Ltd. took over the building in the 1990s after itacquiredr ERE.
JPMorgan quietly put the building on the market inearlhy 2008, asking $385 per square foot, or roughly $250 million, brokers Brookfield Properties Corp. of New York and Torontl had the building under contract to purchase last summerfor $225 but the deal was not consummated becaus of the debt crisis’ impacf on Brookfield’s lender, said real estate brokers knowledgeable about the deal. As of October, the buildintg was off the market. The building, with an attaches parking structure, is 93 percent leased and includes Ink! Coffewe and Heidi’s Brooklyn Deli outlets. It is home to the headquarterzs of Molson CoorsBrewing Co.
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