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COPYRIGHT 2005 Business Wire
CHICAGO -- Trizec Properties, Inc. (NYSE:TRZ) today announced the sale of Metropolitan Square, a 1,041,000-square-foot office building in St. Louis for $165.8 million. The buyer was Metropolitan Square LLC, an entity formed by a private investment partnership. The transaction closed on July 29, 2005.
The 42-story property, located at 211 North Broadway in the downtown submarket of St. Louis, was completed in 1989. Trizec acquired the property in 1997.
Brian Lipson, Trizec's Executive Vice President and Chief Investment Officer commented, "This disposition enables us to exit another non-core market while taking advantage of the strong demand for high-quality properties such as...
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