Jacksonville Class A office portfolio trades in off-market transaction

ORLANDO – September 9, 2021 – JLL Capital Markets announced today that it has closed sale of a two-property, Class A office portfolio totaling 223,588 square feet at 4190 Belford Rd. and 4345 Southpoint Blvd. in Jacksonville, Florida.

JLL represented the buyer, Bradford Allen Investment Advisors, LLC, in an off-market transaction. The seller was a joint venture of TriGate Capital and LRC Properties.

The two properties are positioned within Enterprise Corporate Park about eight miles southeast of downtown Jacksonville. This location is just east of the Interstate 95 and John Turner Butler Blvd (202) and adjacent to the St. Vincent’s Medical Center.

4190 Belfort Rd. has 119,230 square feet of office space that is 85% leased while the 103,358 square feet at 4345 Southpoint Blvd. is fully vacant. Overall, the property is leased to 14 tenants across 11 different industries.

The JLL Capital Markets team representing the buyer was led by Senior Managing Director Hermen Rodriguez, Senior Director Robbie McEwan, Managing Director Ike Ojala, and Director Matthew McCormack with support from Analysts Max Lescano, Blake Koletic and Michael Roukis.

“Jacksonville continues to be a magnet for companies looking to relocate, which makes it an attractive location for savvy investors,” McEwan noted. “There has been a migration of capital from across the country into the Southeastern United States and expect that trend to continue into the future.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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