SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) December 19, 1997
COMMERCIAL PROPERTIES 1, L.P.
(Exact name of registrant as specified in its charter)
Virginia 0-11081 13-3075804
State or other jurisdiction Commission IRS Employer
of incorporation File Number Identification No.
3 World Financial Center, 29th Floor
New York, NY Attn.: Andre Anderson 10285
Address of principal executive offices Zip Code
Registrant's telephone number, including area code (212) 526-3237
Item 2. Disposition of Assets:
On December 19, 1997, Commercial Properties 1, L.P. (the
"Partnership") closed on the sale of Maitland Center Office Building A
(the "Property"). The Property was sold for net proceeds of $8,952,658 to
CMD Realty Investment Fund III, L.P., an Illinois Limited partnership (the
"Buyer"), which is unaffiliated with the Partnership. The selling
price was determined by arm's length negotiations between the Partnership
and the Buyer. The transaction resulted in a gain on sale of approximately
$3.6 million, which will be reflected in the Partnership's statement of
operations for the period ending December 31, 1997.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
COMMERCIAL PROPERTIES 1, L.P.
BY: CP1 Real Estate Services Inc.
General Partner
Date: January 2, 1997 BY: /s/Jeffrey C. Carter
Director and President
Date: January 2, 1997 BY: /s/Michael T. Marron
Vice President and
Chief Financial Officer