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ORLANDO-Mack-Cali Realty Corp. of Cranford, NJ has realized $23.7 million or $79.68 per sf in the $25 million sale to Brookfield, WI-based Decade Properties Inc. of its 20-story, 297,429-sf One Mack-Cali Center at 501 Kennedy Blvd., Tampa, FL.

The effective $23.7 million price reflects deductions for re-tenanting costs and credits for capital improvements to the buyer.

The sale marks one of the few class A office transactions this year in metro Tampa, area brokers tell GlobeSt.com.

A prepared statement from Mack-Cali didn’t disclose the age, occupancy or average quoted rents at the property. GlobeSt.com couldn’t reach Mack-Cali officials at publication deadline.

Area brokers tell GlobeSt.com the sale price was below an estimated replacement cost of $150 per sf or a total $29.74 million.

The building was Mack-Cali’s sole Florida asset. John F. Gerlach and Terri Huerta of Colliers Arnold brokerage negotiated for Mack-Cali.

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