JACKSONVILLE, FL., – January 22, 2024 – NAI Hallmark announces the sale of The Park at Pottsburg Creek Apartments for an undisclosed price. The 128-unit multifamily property is located at 4800 Atlantic Boulevard in Jacksonville, Florida. Senior Vice President John Rutherford and Vice President Luke McCann brokered the transaction on behalf Toro Jax Property II LLC, the Seller and Red Raider 45 LLC, the Buyer.
“NAI Hallmark is pleased to have represented the Seller and Buyer in the sale of The Park at Pottsburg Creek,” said Rutherford. “We had immense interest from the market in this one, showcasing that demand for value-add opportunities in strong growth markets such as Jacksonville remains consistent. Given the upside potential and the premier location situated near the San Marco community, we’re excited to see the value that the new owners will bring to the tenants and local area.”
The multifamily asset was built in 1963 and offers an expansion opportunity with an undeveloped 2.3 acres parcel. The property consists of 128 multifamily units ranging in size from one to three-bedrooms in ten buildings on a total of 8.32 acres. The property is located near the San Marco submarket of Jacksonville just east of the Hart Expressway, within minutes to Downtown Jacksonville and the Southside Business District.
For more information regarding the sale of The Park at Pottsburg Creek Apartments or any questions relating to multifamily investment assets, please contact John Rutherford at jr@naihallmark.com.
About NAI Hallmark
NAI Hallmark is a full-service commercial real estate company specializing in sales and leasing brokerage, property and facilities management, and corporate services in Northeast Florida. Established in 1993, NAI Hallmark is currently involved in the leasing and/or management of a portfolio in excess of 6 million square feet of office, industrial and retail properties and is one of the leading investment sales practices in Northeast Florida. As a member of the NAI Global network, NAI Hallmark is also connected to the largest network of independent commercial real estate firms worldwide. Learn more at naihallmark.com
About NAI Global
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 300 offices strategically located throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 5,100 local market professionals, managing in excess of 1.1 billion square feet of property and facilities. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world. NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services. To learn more, visit www.naiglobal.com.
