facebook
Traded Co logo
Submit

Hakimian Holdings Inc. Acquires Office Property In Jacksonville For $25.15M

Property Image
SOLD
$25,150,000
Karl Johnston
Mike Davis

Florida

See Similar Deals
Office136,853 SF
Sold
the dealplayerscompscontact
Property Image
SOLD

Hakimian Holdings Inc. Acquires Office Property In Jacksonville For $25.15M

245 Riverside Avenue, Jacksonville, Florida 32202, United States

See Similar Deals
Office136,853 SF
Sold
Karl Johnston
Mike Davis
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$183
Total Square Footage:136,853 SF
Transaction Type:Sale

Hakimian Holdings Inc., led by Ben Hakimian, has acquired an office property in Jacksonville located at 245 Riverside Ave. The transaction took place on September 26, 2022, with a sale price of $25,150,000. The property spans 136,853 square feet, resulting in a price per square foot of $184. The seller in this deal was CTO Realty Growth Inc.

Summary of transaction details

  • Property Type: Office
  • Sale Price: $25,150,000
  • Square Footage: 136,853
  • Price per Square Foot: $184
  • Date: September 26, 2022
  • Address: 245 Riverside Ave
  • Buyer: Hakimian Holdings Inc. - Ben Hakimian
  • Seller: CTO Realty Growth Inc

The deal was facilitated by brokers Karl Johnston and Mike Davis, who represented the buyer and seller respectively. They both work at Cushman & Wakefield.

Players

Mike Davis
Cushman & Wakefield
Mike Davis
65 deals$3.6B volume
BROKER
Karl Johnston
Cushman & Wakefield
Karl Johnston
6 deals$157.6M volume
BROKER
CI
CTO Realty Growth Inc
SELLER

Details

SOLD
IMAGE: Ben Hakimian, Mike Davis & Karl Johnston DATE: 09/26/2022 ADDRESS: 245 Riverside Ave MARKET: Jacksonville ASSET TYPE: Office SELLER: CTO Realty Growth Inc BUYER: Hakimian Holdings Inc. (@HakimianHoldingsInc) - Ben Hakimian BROKERS: Karl Johnston & Mike Davis - Cushman & Wakefield (@CushWake) SALE PRICE: $25,150,000 SF: 136,853 ~ PPSF: $184

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,341,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$89,352.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$119,223.83
Annual Debt Service$1,430,685.97