Monday, April 23, 2012

Seventeenth Street Plaza sold to HRPT - Boston Business Journal:

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Newton, Mass.-based HRPT (NYSE: HRP), a real estate investmentf trust that owns and operateas office andindustrial buildings, paid cash for the The sales price was not announced. Seventeent h Street Plaza is located at 122517th St., acrossa from the Tabor Centefr office, retail and hotel complex. It was developed by what’s now Jonesw Lang LaSalle Inc. of Chicago, and was completedc in 1982. Previous owners includre Equitable Real Estate InvestmentrManagement Inc. (ERE), part of the Equitable insurance Australian real estate giant LendLeaser Corp. Ltd. took over the building in the 1990w after itacquired ERE.
JPMorgan quietlty put the building on the market inearlu 2008, asking $385 per square foot, or roughly $250 brokers said. Brookfield Properties Corp. of New York and Toronto had the buildiny under contract to purchase last summe rfor $225 million, but the deal was not consummated because of the debt crisis’ impact on Brookfield’sz lender, said real estate brokerz knowledgeable about the deal. As of October, the buildingt was off the market. The with an attached parking structure, is 93 percentt leased and includes Ink! Coffee and Heidi’s Brooklyn Deli It is home to the headquarters of Molson CoorsBrewing Co.

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