Wideman Companies Acquires Office Asset From CitiGroup Inc In Jacksonville For $24M
SOLD
$24,000,000
Florida
See Similar DealsOffice523,451 SF
Sold 01/17/2025
SOLD
Wideman Companies Acquires Office Asset From CitiGroup Inc In Jacksonville For $24M
14000 Citicards Way
See Similar DealsOffice523,451 SF
Sold 01/17/2025
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$45
Total Square Footage:523,451 SF
Transaction Type:Sale
The property asset involved in the transaction is located at 14000 Citicards Way, Jacksonville, and is classified as an office space. The sale price was $24,000,000, and the property encompasses a total square footage of 523,451. The price per square foot for this transaction is $45.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $24,000,000
- Sale Date: 01/17/2025
- Buyer: Wideman Companies
- Seller: CitiGroup, Inc.
- Brokers: Robbie McEwan, Blake Koletic & Hunter Smith - JLL
The deal featured prominent representatives from JLL, with Robbie McEwan, Blake Koletic, and Hunter Smith representing the transaction for the buyer and seller. This collaboration showcases the expertise of JLL in facilitating significant real estate transactions in the Jacksonville market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,279,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$85,266.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$113,772.24
Annual Debt Service$1,365,266.93
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