2 Bldgs. in Siena Office Park Change Hands
Author: Diana Heeb Bivona
Earlier this month, Building 3 and Building 5, in the Siena Office Park changed hands. The transaction price involving more that 101,000 square feet of space between the two buildings was approximately $42 million. Major tenants located in the two buildings include HQ Global Workplaces Inc., National University and Countrywide Home Loan. Overall occupancy is currently 91%.
GlobeSt.com is reporting that Triple Net Properties acquired the two low-rise buildings on behalf of tenant-in-common investors. Initially, Triple Net took a significant position in the properties but has since sold additional stakes in the assets to additional 1031 exchange investors.