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Unanchored Retail Sells at Single-Digit Cap Rate

JACKSONVILLE, FL—Four months ago, Showcase Plaza was mostly vacant. But the Jacksonville retail real estate owner turned it around in dramatic fashion. Find out how.

By Jennifer LeClaire | Updated on November 07, 2013

JACKSONVILLE, FL—Four months ago, Showcase Plaza was mostly vacant. But the Jacksonville retail real estate owner turned it around in dramatic fashion and sold the asset to an out-of-market investor willing to bet on its future.

Located in Southwest Jacksonville, the once-distressed Showcase Plaza just sold for $960,000. The buyer bought the property in a 1031 exchange for $58.80 per square foot.

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