Carmen Mantay of NAI Hallmark brokered the sale of 6885 Belfort Oaks Place, Suites 100-200, Jacksonville, FL 32216. The Property is located near St. Vincent’s Medical Center Southside. The property is in the Belfort Oaks Village development with a total of 7,600 square feet. A private investor acquired the property for $1,450,000 and plans to occupy the vacant unit, while the seller will leaseback 4,000 sf of the property.
Carmen Mantay, VP Brokerage with NAI Hallmark said, “ The medical office building market in Jacksonville has become stronger due to inventory absorption and low supply of this kind of property. In fact, I have experienced a significant increase in demand from medical buyers the past year. This is an advantage for sellers to sell this type of commercial properties at a higher rate. The sale of the Belfort Oaks property is a very good example. It took some time to find the right buyer who would see the value in this deal. In the end, the seller was able to stay in the building as a tenant with a reasonable lease rate giving the buyer an income producing asset. With skill and diligence, all variables and challenges to bring this deal to closing worked out successfully”.