JACKSONVILLE, FL., – August 16, 2023 – NAI Hallmark, Jacksonville’s largest locally owned commercial real estate brokerage and property management firm, announces the sale of Lakeside Plaza located at 8665, 8667, and 8669 Baypine Road, Jacksonville, FL (the “Property”). Senior Vice President Daniel Burkhardt, SIOR and Managing Partner Keith Goldfaden represented the seller, Acorn Property Holdings. The Buyer, Narut Land Company, Inc., purchased the Property for $4,325,000.
“Lakeside Plaza was a competitive offering, given the Property’s desirable location, institutional quality, and strong in place cash flow with additional upside.” said Daniel Burkhardt, Senior Vice President at NAI Hallmark. Burkhardt added, “Despite the current capital markets environment, we are seeing an increased demand for quality office investment property.”
The Property consists of a three-story, multi-tenanted office building and two single-story, single-tenant office buildings for a total of 64,593 square feet. The Property is situated on 5.37 acres of land located in the Deerwood Center Office Park off of Baypine Road, which is adjacent to, and runs parallel with Interstate-95. The Property was built in 1988 with several recent renovations completed, including but not limited to, LED lighting in common areas, select HVAC unit replacements, awning replacements, security camera system, and restroom updates.
NAI Hallmark will manage and lease the property for Narut Land Company. For more information regarding the sale of Lakeside Plaza, or any questions relating to investment sales throughout Northeast Florida, please contact Daniel Burkhardt at db@naihallmark.com.
