A 273,905-square-foot office and industrial complex located in Danvers has sold for $10.4 million.

The property at 75 Sylvan St. is comprised of three buildings and is currently 38 percent occupied, with tenants including Liberty Mutual and Danversbank.

Brookwood Sylvan LLC, an affiliate of Brookwood Financial Partners, bought the property from NewStar Financial for $37.88 per square foot.

NewStar had taken back the property from the prior owner, who had acquired the buildings during the height of the recent real estate boom. Prior to losing the building to the NewStar, the previous owner invested a significant amount of capital into the buildings, including new roofs, mechanicals and interior finishes, according to a statement.

"With the capital we have available and the amenities at the building, we believe we will be able to increase significantly the leasing activity at the property, adding to the strong tenancy that currently exists there," said Thomas W. Brown, director of acquisitions for Brookwood. "The property complements well the other 1.2 million square feet of space that we own in New England."

Lisa Campoli of Colliers Meredith & Grew represented the seller in the transaction.