Columbia Property Trust, Inc. (NYSE:CXP) announced today that it has completed the sale of three separate office buildings for total proceeds of $88.5 million in cash. These transactions were anticipated in the Company’s guidance for 2014. The transactions include:
- Sale of the 247,624-square-foot Class-A office property at 7031 Columbia Gateway Drive in Columbia, MD, to the existing tenant, MICROS Systems, Inc.;
- Sale of the 128,296-square-foot Class-A SunTrust Building at 200 South Orange in Orlando, FL, to Susquehanna Holdings, LTD.; and
- Sale of the previously vacant 240,274-square-foot Class-B office property at 160 Park Avenue (f/ka 180 Park Avenue #103) in Florham Park, NJ, to new user Automatic Switch Company.