Trevato Development Group Acquires 30-Acre Office Park In Jacksonville For $20M

Trevato Development Group has acquired a 30-acre office park located at 1776 American Heritage Life Drive in Jacksonville, Florida. The property was purchased from American Heritage Life Insurance Co for a total of $20 million. The office park is set to be transformed into a lifestyle office space, with plans already in place. Stellar Energy, an energy systems company, has committed to anchoring the development and has pre-leased over 120,000 square feet of space.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $20,000,000
• Square Footage: 235,484
• Price per Square Foot: $85
• Address: 1776 American Heritage Life Drive, Jacksonville, Florida
• Market: Jacksonville

Trevato Development Group, represented by Katelyn Taylor of Trevato Development Group, was the buyer in the transaction. American Heritage Life Insurance Co acted as the seller. This acquisition marks Trevato Development Group's entrance into the Jacksonville market as they embark on their plans to create a vibrant lifestyle office environment in the heart of the city.