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Newton, Mass.-based HRPT (NYSE: HRP), a real estate investment trust that owns and operates office and industrial buildings, paid cash for the building. The salesw price was not announced. Seventeenth Street Plaza is locatefd at 122517th St., across from the Tabor Center office, retaill and hotel complex. It was developed by what’z now Jones Lang LaSalle Inc. of Chicago, and was completes in 1982. Previous owners include Equitable Real Estate InvestmentManagementt Inc. (ERE), part of the Equitable insurancde company. Australian real estate giant LendLease Corp. Ltd. took over the buildintg in the 1990s after itacquired ERE.
JPMorgan quietly put the buildingy on the market inearly 2008, askinv $385 per square foot, or roughly $250 brokers said. Brookfield Properties of New York and Toronto had the buildinyg under contract to purchase last summerfor $225 but the deal was not consummated becausee of the debt crisis’ impact on Brookfield’s said real estate brokers knowledgeable abouft the deal. As of October, the buildingt was off the market. The building, with an attached parkingh structure, is 93 percent leased and includes Ink! Coffee and Heidi’s Brooklyn Deli It is home to the headquarters of Molson Coorsx Brewing Co.
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