The sale, which occurred in August, represents $176 per sf. Theseller, Opus, was represented by Mark Shellabarger, GingerGelsheimer, Steven Buss, Tom Holtz and Ryan Watts, of CB RichardEllis' Tampa Private Client Group and Minneapolis InstitutionalGroup.

Shellabarger tells GlobeSt.com that Osprey is a privateinvestment group that already owned several comparable officebuildings in the Tampa Bay area. With the acquisition, Osprey addsto its existing portfolio of class A office buildings. The sellerdecided to sell the property because it was part of a fund withother properties, some of which are being sold. The buyer has noimmediate plans to make capital improvements because the buildingis in good shape and is 100% leased, Shellabarger adds.

According to a CB Richard Ellis 2Q Tampa office market report,leasing has been strong. In the East Tampa submarket, the vacancyrate was 14.7% with 9,617 sf of absorption during the quarter. Theaverage asking rental rate was $16.64 per sf. There are two officebuildings currently under construction in East Tampa, the 97,244-sfHighland Oaks V and the 60,000-sf Angelica Place.