The top 10 commercial real estate sales in 2020 | Jax Daily Record | Jacksonville Daily Record
The top 10 Northeast Florida commercial real estate sales in 2020 were sold for a total of nearly $ 822 million. Nine are in Duval County and one is in St. Johns County. Under the direction of Amazon’s first fulfillment center in Jacksonville, the list includes a fulfillment center for another online retailer, two of downtown’s top office towers, and six apartment buildings.
DUVAL
$ 107,800,000
12900 Pecan Park Road, Jacksonville
Type: Amazon Fulfillment Center JAX2
Package size: 169.18 acres
Building size: 2.4 million square meters
Buyer: JDM AMZN JAX LLC
Seller: RELP Duval LLC
Recorded: August 5th.
About the Property: The developer of the Amazon.com fulfillment center in Northwest Jacksonville, 12900 Pecan Park Road, sold the property on July 30 for US $ 107.8 million to JDM AMZN JAX LLC, part of JDM Partners of Phoenix.
The multi-level fulfillment center has a floor space of 875,580 square feet and a total area of approximately 2.4 million square feet.
It is the first operation Amazon opened in Jacksonville in September 2017.
Amazon rents the facility on Duval and Pecan Park Streets, just off Interstate 295 and a mile and a half south of Jacksonville International Airport. Employees sort, pack and send orders for small parts.
DUVAL
$ 96,850,000
9820 Creekfront Road and 7632 Southside Blvd., Jacksonville
Type: ARIUM Deerwood Apartments
Package size: 65.29 acres
Number of units: 616
Buyer: L / L Deerwood Associates LLC
Seller: Aqua Deerwood LL LLC
Previous Sale: $ 74,500,000 in 2017
Recorded: November 2nd
The Duval County’s No. 1 home sale ended on October 28 when Laramar, a Chicago-based multi-family investor, bought ARIUM Deerwood for $ 96.8 million.
The property comprises 616 units on 9803 Creekfront Road along Southside Boulevard between Butler Boulevard and Baymeadows Road.
The community was built up in phases between 1981 and 1986.
DUVAL
$ 90,000,000
8451 Gate Parkway W., Jacksonville
Type: Citigate Apartments
Package size: 40.24 acres
Number of units: 444
Buyer: Bcore MF Citigate LLC
Seller: Citigate Apartments Property Owner LLC
Previous Sale: $ 54,807,500 in 2011
Recorded: December 4th.
About the property: Duval County’s second largest home purchase in 2020 ended on November 25 when New York-based The Blackstone Group acquired Citigate Apartments for $ 97 million.
The four-story building was built in 2009 and comprises 444 residential units on 8451 Gate Parkway.
Amenities include a swimming pool with cabanas and a fireplace lounge, gym with spin room, game room, movie theater, dog park, playground, barbecue area, bocce court and elevators in each building.
DUVAL
$ 83,250,000
8876 AC Skinner Parkway, Jacksonville
Type: JTB apartments
Package size: 13.28 hectares
Number of units: 350
Buyer: Inland Real Estate Investment Corp.
Seller: JTB AC Skinner LLC
Not recorded
About the Property: A record for commercial real estate in northeast Florida was set on September 11th when Chicago-based Inland Real Estate Investment Corp. JTB Apartments bought for $ 83.25 million. The price of $ 237,857 per unit was the highest in the region’s history.
The property at 8876 AC Skinner Parkway near St. Johns Town Center includes 350 units that were built in 2019.
Apartments have 9-foot ceilings, quartz meters, washers and dryers, and stainless steel appliances. Amenities include a resort-style pool and lap pool, cabanas, a 11,000-square-foot clubhouse with a demonstration kitchen, TV lounge, cybercafé lounge, interactive game room, gym and rooftop lounge.
ST. JOHNS
$ 79,500,000
65 Sentosa Drive, Saint Johns
Type: The Elysian Apartments
Package size: 21 acres
Number of units: 348
Buyer: The Elysian AL LP
Seller: Sentosa Beachwalk Apartments LLC
Recorded: April 17th
About the Estate: Tampa-based American Landmark Apartments purchased Sentosa Beachwalk apartments in the Beachwalk community of St. Johns County for $ 79.5 million on April 15. American Landmark renamed the 348-unit parish that was built in 2019 at 65 Sentosa Drive in The Elysian.
Amenities include a swimming pool, 24-hour fitness center, fireplace lounge, volleyball courts, playground, laundry and dry cleaning facilities, and charging stations for electric vehicles.
The new owner said he would add USB sockets in each unit, a temperature-controlled parcel locker delivery system, a car wash, a dog park, and landscaping improvements.
DUVAL
$ 75,500,000
50 N. Laura St., 135 W. Bay St. and 25 W. Forsyth St., Jacksonville
Type: Bank of America Tower, IberiaBank and parking garage
Package size: 1.73 acres
Building Size: Three buildings totaling 1,185,235 square feet
Buyer: Jacksonville Tower Florida Realty LP
Seller: Hertz Jacksonville One LLC
Previous Sale: $ 88,000,000 in 2014
Recorded: December 17th
About the property: In the largest class A office property transaction in Jacksonville in 2020, the New York City group RMC bought the tallest skyscraper in downtown – the 42-story Bank of America Tower along with the adjacent IberiaBank building and a parking garage on December 15 for $ 75.5 million.
The purchase price was 14% below the previous sale in July 2014.
According to its website, Group RMC is “a real estate co-investment group investing in underrated office properties in US markets without a gateway.”
According to Group RMC, the company and its partners are “constant and patient investors,” which indicates long-term ownership. “Group RMC will never be a forced seller and will only sell if an irresistible offer arises.”
The company and its affiliates own 18.5 million square feet in the United States, primarily in the Midwest, equivalent to more than $ 2 billion in assets.
DUVAL
$ 75,482,273
13483 103rd St., Jacksonville
Type: Wayfair Inc.’s fulfillment center
Package size: 79.68 acres
Building size: 1,014,296 square feet
Buyer: Cecil Distribution Center LLC
Seller: 103 BLDG AB LLC
Recorded: July 21st
About the property: San Francisco-based investor Stockbridge Capital Group LLC purchased the Wayfair Inc. fulfillment center in AllianceFlorida in the Cecil Commerce Center for nearly $ 75.5 million in July.
Wayfair, the Boston-based online home interior design company, is renting the building. The 1.01 million square meter e-commerce fulfillment center is located at 13483 103rd St.
The center is expected to create 250 jobs by the end of 2021.
DUVAL
$ 73,503,000
11390 Square St., Jacksonville
Type: The Menlo Apartments
Package size: 13.52 acres
Number of units: 332
Buyer: PAC Menlo LLC
Seller: CDP E-Town Owner LLC and Sultan Capital LLC
Recorded: December 18th
The Menlo Apartments property in eTown was purchased on December 15 for $ 73.5 million.
Atlanta-based Oxford Properties purchased the 332-unit, seven-building community less than a year after construction at 11290 Square St.
The residential units have gourmet kitchens with granite countertops, stainless steel appliances, wooden floors, walk-in showers, washing machines and dryers.
The complex offers a 24-hour fitness center, common areas, a club room with a coffee bar, a bark park, a resort-style pool, cabanas, an outdoor kitchen, a fire pit and a sports field.
DUVAL
$ 72,750,000
12310 Seacrest Lane, Jacksonville
Type: The Retreat in St. John’s Apartments
Package size: 27.22 acres
Number of units: 420
Buyer: St. Johns LL LLC
Seller: PS Retreat Owner LLC
Previous Sale: $ 58,775,000 in 2017
Recorded: December 23rd
Investcorp, a New York City-based investment firm, bought The Retreat on December 15 for $ 72.75 million in the St. John’s Apartments.
The 424-unit property is located on the northeast boulevards of Butler and Kernan near the University of North Florida.
The apartments, built in 2007, have balconies, stainless steel kitchen appliances, quartz countertops, garden tubs with ceramic tiles, vinyl wood floors and recessed LED lights.
Amenities include a cyber café, fitness center, resort style pool, BBQ stations, hot tub, lakeside running path, volleyball court, and billiards room.
DUVAL
$ 67,000,000
841 Prudential Drive, Jacksonville
Type: Forty-eight office buildings
Package size: 6.3 hectares
Building size: 600,000 square feet
Buyer: 841 Prudential MOB LLC
Seller: GV-IP Jacksonville Owner LLC
Previous Sale: $ 55,500,000 in 2013
Recorded: February 26th
About the Estate: ShareMD, an Atlanta-based medical office building owner and operator, bought Eight Forty One, the office tower at 841 Prudential Drive on the Southbank, for $ 67 million in February.
ShareMD introduced a coworking medical suite concept in Southern California.
The company announced that it will build more than 10,000 square meters in the Downtown Tower for clinical coworking space to be rented after half a day, a day, a week or a month so that doctors can expand their geographic reach and control their costs. by not being tied into long term agreements.
When the 22-story tower was built for Prudential Insurance Co. in 1955, it was the tallest building in the southeastern United States