Hakimian Holdings Inc. Acquires Office Property In Jacksonville For $25.15M
245 Riverside Avenue, Jacksonville, Florida 32202, United States
$25,150,000
$183/SF
Building Size
136,853 SF
Asset Type
Office
Closing
Sep 25, 2022
AI
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
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
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93