Class A office continues to be a hot product nationwide.

Birmingham-based Graham & Co., along with other investors, took advantage of the favorable market conditions this week by selling a 14-story office building in Jacksonville, Fla.

BP Graham LLC sold the building at 550 Water Street to CSX Corp. for $30 million.

The seller’s LLC is comprised of the principals at Graham & Co. and a group of undisclosed investors. The corporation had owned the building since 2007.

CSX Corp. occupies 11 floors of 234,310-square-foot building, which serves as the company’s main IT and Intermodal facility, supporting over 800 employees.

CSX Corp. has its headquarters in a building adjacent to 550 Water Street.

Graham & Co. is still very active in the Jacksonville market, owning and managing three buildings at a total of a half million square feet.

Those buildings are First Coast Distribution Center, Bayberry Industrial Park and 6800 Southpoint Parkway Center.

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