TAMPA, FL-One of Tampa Bay’s most coveted office properties has sold for $46.9 million. Parkway Properties bought the Pointe via its Parkway Properties Office Fund. The seller was undisclosed.

“The Pointe is a landmark asset in the Westshore submarket and includes a strong tenant base consisting of high-quality national and regional credit customers,” James Heistand, president and CEO of Parkway, said in a statement. “With this purchase, Parkway now owns an interest in over 788,000 square feet and manages an additional 299,000 square feet for third-party owners in the Westshore submarket, which provides Parkway with important critical mass in this primarily urban infill area.”

CBRE vice chairman Christian Lee, senior vice president Dale Peterson and senior associate Paul Carr marketed the property for sale on behalf of the seller. The CBRE Capital Markets team in South Florida arranged the acquisition financing through a MassMutual subsidiary, Cornerstone. The South Florida Capital Markets team was led by vice chairman Charles Foschini and vice president Christopher Apone.

“We had strong interest from the investor community given it’s one of the premier assets in the submarket,” Lee tells GlobeSt.com. “It was certainly one of the most sought after deals we’ve been involved with since the market came back. Parkway was fortunate to come out with a nice new asset in the market.”

Built in 1983 and renovated in 1995, the 10-story 252,337-square-foot office property sits on nearly five acres of waterfront land. Tenants include Wells Fargo, Oracle Corp., SunTrust Mortgage, Goldman Sachs, McNichols and Autotrader.com. The property is currently 88.4% leased to 28 customers.

“The sales price is $186 per square foot,” Lee says. “It’s been a long time since anybody has seen a price per square foot like that in Westshore. Even at the previous peak of the market there weren’t too many sales at $200 a foot.”