Unico's office acquisitions guy Greg Petry tells GlobeSt.com is retaining a minority interest in the property and will continue to manage the asset. Jones Lang LaSalle had the disposition assignment. The purchase price equates to a per-sf price of $370, which is approximately the price paid by Unico to acquire the property in 2000, which many consider to have been at or near the top of the market.

"Although we bought it at a fairly high cap rate that has provided significant cash flow over the life of the hold, we had a lot of obstacles to overcome in the investment," says Petry. "Since we bought it everything has gone wrong with the market, so being able to get back what we paid for it is a great result."

With regard to Citigroup and Wafra, Petry says the two investors were coming to the end of their planned hold and wanted to take advantage of the aggressive pricing in the marketplace for core assets. "We feel like there is still upside in the investment," says Petry. "That's why we stayed in."