Korean company FG Asset Management has snapped up the Smollett Street landmark for $64.8 million after selling for nearly $50 million three years ago.

The 2012 sale to a Sydney-based property fund manager was widely regarded as a record sale for an Albury commercial property.

But, LJ Colquhoun Dixon commercial real estate agent Andrew Dixon said the sale could have set another benchmark.

"It can only be described as an outstanding result all round," he said.

"It is recognition of how well regional Australia is perceived in the commercial investment market.

"More specifically in a strong regional centre like Albury-Wodonga.

"The investment market is very strong with properties between $1 million and this value keenly sought after."

The purchase of the eight-level building in Albury is the Seoul-based group's second in as many months after exchanging contracts for the ATO building in Box Hill for $165 million.

Both assets, worth $229.8 million combined, have long-term leases in place with the ATO.

FG Asset Management paid a slightly higher yield of seven per cent for the Albury office which is leased to the ATO for 15 years with an option of a further 10 years.

The ATO also confirmed the sale of its Albury office on Wednesday.

"This sale does not affect the lease agreement with the ATO," an ATO spokespersons said.

"It is a commercial real estate transaction taking place between the new and old owners.

"The ATO lease on its Albury office extends to 2027."

It was originally sold less than six weeks after staff moved into the building in late 2012.

David Harper's Volt  Lane Pty Ltd was the original owner.

His construction arm, the Doma Group, purpose-built the property with a 5-star green rating for the ATO which was previously based in the former woolstore building.

The woolstore has been partly converted into a Quest Apartments property.

A total of 1260 people work at the Albury ATO building in a mix of permanent and casual roles.

A similar number will work at Box Hill.