Keith Goldfaden, Daniel Burkhardt and Luke Feldman of NAI Hallmark and Stuart Duffin of NAI Southcoast represented the seller in the sale of Wells Lake Commerce Center (320 – 350 Corporate Way, Orange Park, Florida 32073). Located in the northern region of Clay County, the business park consists of four single-story office buildings totaling 52,620 square feet. An affiliate of Lat Purser & Associates, a full service real estate company based in Charlotte, NC, acquired the property for $6,795,000 ($129/SF).
“The combination of its desirable location, institutional quality, consistent historical occupancy and strong cash flow with upside allowed us to achieve a strong sales price for our client” said Daniel Burkhardt, Vice President of NAI Hallmark.
Keith Goldfaden, a Principal with NAI Hallmark added, “We continue to experience strong investment demand throughout the Jacksonville MSA. In Clay county, specifically, buyer interest is as strong as we have ever seen it; driven by strong population and employment growth and the future completion of the outer beltway.
Wells Lake Commerce Center was 81% occupied at the time of the sale and included tenants such as Maple Street Biscuit Company, Cemex, Kindred Healthcare, Wyle Laboratories, and others.