A recent survey of commercial real estate markets in North America by Colliers International Research indicates a slowdown in office markets nationwide but this area's top of the market space--possibly due to the lack of new available space--is still going strong. Talk of the deal comes right on the heels of the sale of 99 High St. for $213.5 million or $292 per sf--a building that was sold 15 months after it was bought at the height of the market for $168.5 million.

The buyer for One Federal is reportedly an Atlanta-based investment advisor, Jamestown Co. Officials from the company would not comment on the deal. The 38-story tower is home to FleetBoston Financial Corp.'s headquarters.