Berwind Breaks Ground on Class A Office Building

JACKSONVILLE, FL-Berwind Property Group of Philadelphia has spotted a niche in compact, single-story office structures here and broken ground on Cypress Business Center II, a planned 42,500-sf, $4.5 million, class A venture at the two-building, 120,500-sf Cypress Business Center.

The center’s first 78,000-sf building, erected in 1990, is 95% leased, a performance that supports Berwind’s optimism for its project, Brad Chrischilles, a vice president in the local office of Trammell Crow Co., tells GlobeSt.com.

“Although vacancies (for the general office market) are in the teens, the market for new, first-generation, one-story buildings offering six parking spaces per 1,000 sf (leased) remains strong,” Chrischilles says. “The parking factor is the big plus, giving tenants multi parking right at the front door of their businesses.”