News
A MONUMENTAL DEAL
July 5, 2011
| Late last week, Chase Brexton Health Services bought the old Monumental Life Building at 1111 N Charles St from AEGON. That's less than a year after Transamerica announced it's leaving the building for 100 Light St. |
 |
| Sources tell Bisnow the sale price was $6.7M. MacKenzie Commercial's Terri Harrington repped the buyer and tells us ?eds, meds, and feds? are driving local leasing and sales activity. Chase (in the second category) will consolidate its HQ and health clinic at the 192k SF building, and Terri says the company has always wanted to buy in Mt. Vernon: ?They service this community, so acquiring a property within a few blocks of their current location was always their goal.? AEGON/Transamerica was represented by Cassidy Turley's David Downey, who tells us his team was approached by Chase Brexton about two months before they planned on marketing the building for sale. ?We'd already made a list of potential buyers, and they were definitely on it,? he says. ?There's a limited number of users who want a big building in that area, and we were also looking at the possibility of converting the property to apartments.? |
 |
| Terri says Chase is working with an architect to figure out how much of the building it'll use. AEGON is renting back all of the space for now, so she says the building will be fully leased through the end of the year (Transamerica moves out in November). Fun fact: Terri tells us Chase Brexton is named for its original office (located at Chase and Brexton Streets), so the company's leadership ?loves? the fact that the Monumental building overlooks Chase St. (Also true: Chase Brexton would be a great name for a small town high school QB in a TV movie.) |
