JACKSONVILLE, FL., – May 12, 2021 – NAI Hallmark, a leading commercial real estate brokerage and property management firm in Jacksonville, announces the sale of Arco Place Apartments for $3,600,000. The property is located at 1035 Arco Drive, Jacksonville, FL 32211. Senior Associate Luke McCann and Senior Vice President John Rutherford brokered the transaction on behalf of the Seller & Buyer.
The 48-unit multifamily asset was built in 1965 in the Arlington submarket of Jacksonville. The property is centrally located less than a mile from University Boulevard, the Arlington Expressway, and is within walking distance to several lifestyle retail destinations, including the recently rebranded College Park Shopping Center. The property is comprised of sizeable 1- and 2-bedroom floorplans.
“NAI Hallmark is extremely pleased to have represented the Seller & Buyer in the off-market transaction of Arco Apartments. The property represents a tremendous value-add opportunity in a transformative neighborhood of the Arlington submarket with nearly all nearby multifamily and commercial property seeing significant capital investment over the last three years,” said Senior Associate Luke McCann of NAI Hallmark. “We look forward to seeing the further growth and development of this suburb community of Downtown Jacksonville.”
For more information regarding the sale of Arco Place Apartments, or any questions relating to multifamily investment assets, please contact NAI Hallmark at +1 904 363 9002.
