TAMPA, FL—Tampa City Center just traded for $128.125 million. One Tampa City Center, a joint venture between Carval Investors of Minneapolis and Mainstreet Capital Partners of Fort Lauderdale, FL sold the a 38-story office tower to Alliance Partners, the east coast operating arm of the Shidler Group, a commercial real estate investment, development, and management firm.

Cushman & Wakefield executive director Mike Davis, director Rick Brugge, executive director David Meline, and senior director Michael Lerner represented the seller. CushWake's Atlanta-based Equity Debt and Structured Finance Group arranged an acquisition loan on behalf of the buyer. GE Capital provided the senior debt.

“City Center is one of Tampa's most prestigious office properties, and it delivers unparalleled comfort, convenience and service in the heart of downtown Tampa,” says Davis. “This transaction is further proof that Tampa Bay's commercial real estate market has returned to health.”

Located at 201 North Franklin Street, Tampa City Center is in the heart of the city's central business district and is the downtown's second-largest office building spanning 749,035 square feet. It was built in 1981 and it was Tampa's tallest building until 1986. Merrill Lynch, University Club, Bank of Tampa, Florida Bank, Ernst & Young, PNC Bank, Verizon, and Northwest Mutual Insurance Company are among the tenants.

Tampa City Center boasts the LEED Gold certification for environmental sustainability. In 2013, the building won an EARTH Award from the Building Owners and Managers Association (BOMA). The EARTH Award recognizes environmentally friendly and energy efficient buildings.

The building is equipped with the latest Verizon SmartCenter telecommunications capabilities and is linked to the downtown's largest and most centralized city-owned parking garage, the 2,523-space Fort Brooke garage--a feature that provides tenants with excellent convenience.

The Tampa office market is seeing plenty of trades and leasing in the fourth quarter. Recently, the New York Life Building in Tampa traded hands. On the leasing front, the SunTrust Financial Centre is among the big winners. The class A office building just inked two new leases totaling 28,745 square feet.