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 April 6, 1999
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COMMERCIAL PROPERTIES 1, L.P.
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(Exact name of registrant as specified in its charter)
Virginia 0-11081 13-3075804
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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
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Address of principal executive offices Zip Code
Registrant's telephone number, including area code (212) 526-3183
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COMMERCIAL PROPERTIES 1, L.P.
Item 2. Disposition of Assets
On April 6, 1999, Commercial Properties 1, L.P., a Virginia limited partnership
(the "Partnership"), sold Dawson Business Center and Watkins Center to an
unaffiliated partnership, Atlanta North Flexxspace LTD. (the "Buyer"), for
selling prices of approximately $4,695,434 and $14,080,902, respectively, net of
closing adjustments and selling costs. The selling prices were determined by
arm's length negotiations between the Partnership and the Buyer.
As a result of these sales, the General Partners intend to distribute the net
proceeds therefrom (after payment of or provision for the Partnership's
liabilities and expenses, and establishment of a reserve for contingencies, if
any) during the second quarter of 1999.
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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.
A General Partner
Date: April 16, 1999 BY: /s/Michael T. Marron
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Name: Michael T. Marron
Title: President and Chief Financial Officer
