The owners of the two-part adjoined Insurance Building in West Chester went looking for a tenant and found a record-setting buyer instead.

At $5.98 million, the borough’s largest-ever commercial transaction made the 26,507-square-foot Insurance Building the new crown jewel of Eastern West Chester Partners’ investment portfolio, according to a Daily Local News report.

“Property values are just starting to climb here,” Partner John Newton said in the article. “The borough is such a livable place, and this building is a solid, long-term investment for us.”

It was sold by East Gay Street Associates, led by attorneys from the majority tenant of the property, Gawthrop Greenwood. It is also occupied by investment brokerage Stifel Nicolaus and is still marketing a third-floor office suite.

The group of sellers acquired the property for $3.6 million before renovating it, the article noted. It now features a glass atrium between the two structures, 20-foot ceilings, 18-foot wood-trimmed windows, historic safes and balconies overlooking Gay Street.

Read more about the buyers and sellers, as well as the history of the prominent building, in the Daily Local News here.