MIAMI—5 West Forsyth Street, an historic office building in Downtown Jacksonville, has traded hands. The 20,000-square-foot office asset sits sold for nearly $2 million, or $100 per square foot.
Cushman & Wakefield senior director Traci Jenks represented the buyer, Perdue Office Interiors. Petra Management's Rich Trendel represented the seller, 5 W. Forsyth St.
“Perdue Office Interiors is proud to be a part of Downtown Jacksonville's revitalization,” Vince McCormack, president of Perdue, tells GlobeSt.com. “5 West Forsyth and Perdue have a long, storied history in this city. This was a great opportunity to secure a piece of that history while investing in the future of Jacksonville's CBD.”
5 West Forsyth Street was built 100 years ago in 1916. That's the same year Perdue Office Interiors was founded. The two-story building is home to Perdue's showroom and CoWork Jax.
The office asset's location at the corner of Main Street and Forsyth provides visibility in Jacksonville's downtown core. Tenants have fast access to local amenities and major thoroughfares.
According to Jenks, Jacksonville remains a target market for office users and investors looking to capitalize on a favorable environment for acquisitions. “As rental rates continue to grow, many users are weighing their options to lease or purchase,” she tells GlobeSt.com. “It's a buyer's market right now and, for some, a great opportunity to secure a great deal in Downtown Jacksonville.”
In other Jacksonville news, a four-building office portfolio is up for grabs. Check out my Wednesday column.
MIAMI—5 West Forsyth Street, an historic office building in Downtown Jacksonville, has traded hands. The 20,000-square-foot office asset sits sold for nearly $2 million, or $100 per square foot.
Cushman & Wakefield senior director Traci Jenks represented the buyer, Perdue Office Interiors. Petra Management's Rich Trendel represented the seller, 5 W. Forsyth St.
“Perdue Office Interiors is proud to be a part of Downtown Jacksonville's revitalization,” Vince McCormack, president of Perdue, tells GlobeSt.com. “5 West Forsyth and Perdue have a long, storied history in this city. This was a great opportunity to secure a piece of that history while investing in the future of Jacksonville's CBD.”
5 West Forsyth Street was built 100 years ago in 1916. That's the same year Perdue Office Interiors was founded. The two-story building is home to Perdue's showroom and CoWork Jax.
The office asset's location at the corner of Main Street and Forsyth provides visibility in Jacksonville's downtown core. Tenants have fast access to local amenities and major thoroughfares.
According to Jenks, Jacksonville remains a target market for office users and investors looking to capitalize on a favorable environment for acquisitions. “As rental rates continue to grow, many users are weighing their options to lease or purchase,” she tells GlobeSt.com. “It's a buyer's market right now and, for some, a great opportunity to secure a great deal in Downtown Jacksonville.”
In other Jacksonville news, a four-building office portfolio is up for grabs. Check out my Wednesday column.
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