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Jamestown Properties unveiled yesterday that it purchased a 241,000-square-foot office building, located at 325 Hudson St. in New York City’s Hudson Square area for $110 million. Jamestown has teamed up with Amerimar Enterprises and Hunter Newby (News - Alert) as operating partners of the newly purchased building.

The 10-story property in NYC is a former industrial building, redeveloped in 1998 into a telecommunications center. The building is reportedly positioning itself as a major voice peering hub in NYC as it offers telecommunication features, including floors that can support 200 to 250 pounds and 12-foot ceilings.

Because of these voice peering and telecommunications features and capabilities, the office building is home to many telecommunication and media tenants. In March, Pearson PLC, a publishing company focused on education materials, signed a 7,400-square-foot lease to become the building’s newest tenant.

 “325 Hudson St. is an example of Jamestown’s strategy to acquire properties in dynamic neighborhoods with opportunities to add value over time, especially in areas that show promise for media and technology,” said Michael Phillips, COO of Jamestown. “Hudson Square is the perfect example of such an area and we are excited to have yet another opportunity to add value in New York City.”

Jamestown was founded as a real estate investment and management company with a focus on high-quality current income-producing properties. In 1991, the company expanded its investment profile to include opportunistic real estate funds, targeting the construction, rehabilitation and repositioning of projects.

Jamestown has since syndicated 27 core and core-plus funds and five opportunity funds, for which it has raised approximately $4 billion in equity.  Over the past 29 years, Jamestown has generated about $8 billion in strategic investments.