Keith Goldfaden and Daniel Burkhardt of NAI Hallmark Partners recently announced that they represented the seller in the sale of Fleming Island Business Park. Located in Fleming Island, 20 miles southwest of downtown Jacksonville, the business park consists of 143,669 square feet within six single story office buildings.
“Fleming Island Business Park is one of the few institutional quality office properties in Clay County,” said Burkhardt, vice president of NAI Hallmark Partners. “We expect to continue to see positive leasing absorption within Fleming Island Business Park and the submarket as a whole as this area continues to benefit from strong growth.”
Goldfaden, a principal with NAI Hallmark Partners, added that they were able to attract numerous qualified buyers during the process given the property’s strong in-place income, diversified rent roll and value add opportunity.
“Ultimately, Interra Capital won the deal because they saw the great long-term potential for this business park and the overall growth dynamics of Clay County,” he said.
Fleming Island Business Park is currently 66 percent leased to a diversified group of tenants, including Balfour Beatty, Embry Riddle, Dream Finders Homes and several government agencies. The buyer, Interra Capital Group, is a private equity real estate firm based in Houston, which focuses on commercial, industrial, retail and healthcare real estate investments. This is the group’s second acquisition in Jacksonville, and they have retained NAI Hallmark Partners as the leasing agent for the property.
NAI Hallmark Partners was formed in 1993 as a full-service commercial real estate company offering sales/leasing brokerage, property management and turnkey development services. NAI Hallmark Partners is currently involved in the leasing and/or management of a portfolio in excess of 4 million square feet in the Jacksonville market. In addition, the company has developed more than $400 million in commercial projects throughout Northeast Florida.