Twelve buildings across three product types: Class A office, 1- & 2-story office, and industrial
The closest institutional office building to St. John’s County, one of the fastest growing counties in the nation
Acquire best-in-class portfolio at a 61% discount to replacement cost
Secured critical renewals from major tenants to support individual industrial and office disposition, increasing occupancy by 14%
Pushed Class A rental rates from $20.00/SF at acquisition to $24.75/SF at sale, representing 6% average annual growth versus 3.5% market growth
Leased up and spun-off the industrial buildings in 2016 for the premium price of $24MM and a cap rate of 6.5%, a record industrial cap for the Jacksonville market
