A team led by CB Richard Ellis Inc. Orlando Florida InvestmentProperties Group senior vice president Ronald Rogg represented theseller in the transaction, a fund managed by DRA Advisors LLC.Other team members included Mike Harrell, Mark Shellabarger andGinger Gelsheimer.
The properties were part of a larger portfolio acquired by DRAAdvisors. "DRA decided to take advantage of the strong officemarket conditions in Tampa and St. Petersburg and spun off some ofthe properties," Gelsheimer tells GlobeSt.com.
Cypress Creek decided to acquire the property because thecompany has been actively seeking properties in the area foracquisition. "They're trying to get critical mass in this market,"she says.
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