Vestcor Acquires Office Building In Jacksonville For $5.65M
1639 Atlantic Boulevard, Jacksonville, Florida 32207, United States
$5,650,000
Building Size
—
Asset Type
Office
Closing
Dec 20, 2021
AI
The office property located at 1639 & 1649 Atlantic Blvd. in Jacksonville has been sold in a transaction that closed on December 20, 2021. The property covers an area of 0.51 acres and is situated in a prominent location.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $5,650,000
- Market: Jacksonville
- Buyer: Vestcor
- Seller: Rubin Companies
- Buyer's Representative: Christian Harden - NAI Hallmark
- Seller's Representative: Robert Warren - Warren & Company Realty Advisors
Vestcor, a buyer in this transaction, acquired the office property from Rubin Companies. Christian Harden from NAI Hallmark represented Vestcor as the buyer's representative, while Robert Warren from Warren & Company Realty Advisors acted as the seller's representative.
Players
Jacksonville Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.81%
Cash-on-Cash
-0.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93