The buyers paid Harry and Wendy Brandon of locally based Brandon Properties $3.4 million, or about $95.26 per sf. The property was on the market for six months. The deal took about 75 days to complete, from contract to closing, Ronald J. Rogg, first vice president of CB Richard Ellis Inc.'s Central Florida-based Investment Properties Group, tells GlobeSt.com.

"The property historically has always stayed around the 95% occupancy rate, making investor interest quite strong due to the stability and predictability of the cash flow," says Rogg. He represented the seller. Kirit Smart of Smart Investments negotiated for the buyer.

Rogg found a buyer for the Brandons through an extensive database search of private and foreign investors. He says there were no special environmental challenges or zoning hurdles the buyer, seller or brokers had to overcome before closing the deal.

Rogg's Investment Properties Group has participated in several recent sales of name office buildings in Central Florida. Among the transactions were the Siemens Building, Orlando, for $36 million; 4200 West Cypress in Tampa for $32.75 million; Citrus Center for $32 million; and the CNL Tower for $28.5 million, both in Orlando.