JACKSONVILLE, FL, September 11, 2020 — NAI Hallmark, a leading commercial real estate brokerage and property management firm in Jacksonville announces the sale of 8451 Western Way, Jacksonville, FL 32256 (the “Property”). The transaction was brokered by NAI Hallmark Managing Partners Keith Goldfaden and Christian Harden, SIOR, along with Senior Vice President Daniel Burkhardt, CCIM on behalf of the seller, Conser Holdings, LLC. Boston-based Plymouth Industrial REIT purchased the Property for $20,400,000.
The Property consists of a 289,850 square foot industrial/office building situated on 20 acres of land. At the time of sale, the Property was 99.2% occupied by a diverse group of tenants including Conser Moving and Storage, Total Military Management, Jacksonville Juniors Volleyball Association and Niles Building Products.
“This offering was presented to the market the week prior to COVID shutting down the country. We had very strong initial interest but given the uncertainty due to COVID, the marketing was put on hold for several weeks,” said Keith Goldfaden. “However, with continued interest from buyers given the Property’s highly desirable infill location and strong, diversified tenant mix, the property was reintroduced to the market. Ultimately, we were able to achieve a higher selling price for our clients than anticipated prior to the pandemic.”
Goldfaden added, “The logistics of marketing and closing a large multi-tenant transaction during COVID is challenging, but all credit goes to the teams at Conser Holdings and Plymouth for making it happen.”
For more information regarding the sale of 8451 Western Way in Jacksonville, Florida or any questions relating to investment sales, office or industrial assets, please contact at NAI Hallmark at +1 904 363 9002.