JACKSONVILLE, Fl., February 17, 2020 – Keith Goldfaden and Daniel Burkhardt with NAI Hallmark, and David Ellis and Alex Waddey with NAI Global, announced today the sale of Baymeadows Business Center (the “Property”) for $12,450,000. The Buyer is Adler Real Estate Partners based in Miami, Florida.
Located on Philips Highway, Baymeadows Business Center is in the high barrier to entry Southside submarket. Situated on 10.57 acres, the Property consists of two single-story, multi-tenanted office/ industrial buildings totaling 132,102 square feet. The Property is 86.5% occupied by a diversified tenant mix including UPS, ADP, and Breakthru Beverage Group. NAI Hallmark will continue to provide leasing and management services for the new owner.
“This deal was a great example of successful execution of a value-add project by the Seller, Woodside Capital Partners,” said Keith Goldfaden, Managing Partner of NAI Hallmark. “Given its highly desirable location, diversified mix of credit tenants and an extremely tight industrial leasing environment, we were able to generate a very competitive sales process.”