Connecticut investor buys Corporate Oaks

A Connecticut investment firm has acquired the three-building Corporate Oaks complex in Tampa's Westshore district for $32 million, a further sign that buyers are locking into the city's office market amid a dearth of new construction and shrinking vacancies.

Next Generation Net Lease Management LLC's purchase of the 184,854-square-foot complex marks its first Gulf Coast of Florida acquisition. Seller TA Realty, a pension fund adviser based in Boston, was represented in the transaction by Cushman & Wakefield capital markets team of Mike Davis, Rick Brugge and Michael Lerner.

The three-story buildings, at 5405-5505 W. Cypress St., sit on nearly 11.5 acres and were developed in 1983, records show.