“This class A office space offers a different setting than other office parks or urban locations with amenities like floor-to-ceiling windows and doors and balconies for the executives on the second floor,” Merritt says. “The popularity of suburban office space and this building's strategic location contributed to the higher than average sales price.”

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Capital Staffing plans to use building for office space and operations after the company rapidly grew, doubling its size. Triad Financial moved its operation in March of this year after doubling in size as well. Triad Financial had been at this location since 1999.

Local land prices have jumped from $5 per square foot to nearly $14 per square foot this year alone, driven by the growing demand for office space in South Jacksonville. Nearby Mayo Clinic, which is expanding and was recently named the top ranked hospital in the state of Florida, has helped increased values in this area.

(This Florida city bucks national trends.)

“This sale shows that companies are growing and suburban office space is very much in demand,” says Merritt. “Pablo Oaks Office Park is an excellent location on the Southside, which is reflected in the above-market sale price.”