Washington Twp. office building sells for nearly $8 million to New York investor

The building that once served as the Washington Twp. operations center for a paper producer sold recently for $7.75 million.

The three-store Class A office building at 7777 Washington Village Drive sold for that amount late last month. Property at 7887 Washington Village was also part of the purchase, recent Montgomery County property records indicate. The buyer of both pieces of property was a Rye, N.Y. limited liability company called Pioneer Dayton.

The seller was the American National Insurance Co. The total purchase covers more than eight acres.

In the spring of 2018, the building was caught up in a $175 million sale tied to Nine Dragon’s Paper’s purchase of Catalyst Paper Corp.’s U.S. mills.

Nine Dragons Paper, of Hong Kong, acquired Catalyst’s mills in Maine and Wisconsin along with what was an operations center at 7777 Washington Village. More recently, the building has housed the offices of a local Morgan Stanley branch, Beacon Capital Management and other businesses.

Built in 1989, the building has nearly 82,000 square feet of space, according to the county. It was recently marketed as having more than 320 parking spaces, card key access and excellent visibility from Interstate 675.

Pioneer Dayton LLC has a New York street address that matches that of Pioneer Acquisitions LLC., a real estate investing company. A message was sent to that company about the purchase.

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