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The identity of the winning bidder of the U.S. Custom House has been revealed.

, a privately owned real estate company based in Massachusetts, will take over as owner of the 111-year-old structure on 220 N.W. Eighth Ave.

The company, which was founded in 1990, is known for developing properties for retail store chains like Home Depot, Lowe’s, Target and TJ Maxx. According to its website, the company has developed in excess of 10 million square feet of office and retail projects.

Bidding was closed two weeks ago when a bid of $4.74 million was declared the winner. Before that, the General Services Administration made several unsuccessful attempts to sell the building since it became vacant about six years ago.

Local firms , and have been hired for the building’s remodel.

None of the firms would comment on what the purpose of the building will be, but representatives of GBD said the building’s seismic improvements will be the first aspect of the remodel addressed.

鈥淭here are seismic improvements that would be triggered with a redevelopment of the building, and the scope of those improvements will likely affect the final use of the building,鈥� said Lucas Posada, designer for GBD architects.

A press release from Eastern Real Estate on Wednesday said tenants of the building have yet to be determined.