140,002 square foot multi-tenant office building portfolio (Buildings 200, 400 & 700) in Jacksonville, Florida. The assets were built in 2002, 2004, and 2008 with high-end brick veneer, synthetic stucco and aluminum glass over a steel frame. All three buildings were built to condominium standards including en-suite plumbing and restrooms eliminating significant tenant improvement costs for high paying medical tenants.
Well-Maintained, high-quality three Property office portfolio with a strong yield and favorable Tenant net lease structures. The Property boasts an optimal "sticky" Medical Tenant mix (33.8% of the GLA) with ideal ground floor retail frontage along the highly traveled San Jose Boulevard (49,500 VPD) and a significant trade area amenity base. Investors will benefit from the limited submarket office competition allowing an Owner to aggressively mark-to-market rents in addition to an attractive basis well below replacement cost.