JLL closes $24M sale of Jacksonville office portfolio
3 buildings totaling 140,002 SF in the highly sought-after Mandarin submarket
ORLANDO, January 21, 2020 – JLL Capital Markets announced today that it has closed the $24 million sale of JAX Offices, a three-building office portfolio totaling 140,002 square feet in Jacksonville, Florida.
JLL represented the seller, BWD, LLC, and procured the buyer.
JAX Offices comprises Buildings 200, 400 and 700 within the JAX Offices Business Park, a seven-building campus in Jacksonville’s sought-after Mandarin submarket. The properties are located at 12276 San Jose Boulevard approximately 10 miles south of Downtown Jacksonville and easily accessible to Northern St. John’s County and Interstate 295. The immediate area surrounding the property features a premier amenity base of numerous retailers and fine dining options. The energy-efficient buildings are 93.4% occupied to a seasoned tenant roster that includes approximately 33% medical and healthcare tenants.
The JLL Capital Markets team representing the seller was led by Senior Director Robbie McEwan.
“Jacksonville is experiencing booming population growth, seeing more than a 35% increase since 2000, and continues to rank as one of the best places for business and careers,” McEwan said.
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 advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.