A Sydney based syndicate has snapped up an A Grade office building in Brisbane's inner city suburb of Cannon Hill for $36.95 million.

The two-storey Centuria owned commercial building at 19 Corporate Drive, six kilometres from the CBD, has a net lettable area of 6,028sq m and on-site parking for 145 cars.

Sydney-based syndicator Aviator Capital acquired the property, its third commercial asset in the Brisbane market with the sale price representing a core cap rate of around 6.75 percent.

The sale was negotiated by Anthony Ott and Peter Chapple of Savills, along with Matt Barker, Justin Bond and Christian Sandstrom of Knight Frank.

Savills State Director of Capital Transactions Peter Chapple said that this transaction represents a prominent trend in the market.

"Investors recognised that there is significant underlying demand for users of business park assets including industrial and logistic users seeking a higher level of accommodation for their staff than traditionally offered in a warehouse asset," Mr Chapple said.

The building, which was completed in 2008, is located in the business hub of Southgate Corporate Park which includes tenants such as Holden, Optus, National Australia Bank and the Queensland state government,

"Cannon Hill continues to attract investor interest due to the quality of office developments, accessibility to public transport, excellent car parking and low vacancy rate," Mr Bond said.