AJC Partners Purchases Office Asset From Seller Peter Tubesing For $38 Million In Jacksonville
5201 Gate Parkway
$38,000,000
$253/SF
Building Size
150,000 SF
Asset Type
Office
Closing
Jun 12, 2025
About this deal
AI
The transaction involved the sale of an office property located at 5201 Gate Parkway in Jacksonville. The sale price of the asset was $38,000,000, covering a total square footage of 150,000, which translates to a price per square foot of $253.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $38,000,000
- Buyer: AJC Partners
- Seller: Peter Tubesing
- Seller's Representative: Jeff Gates - SRS Real Estate Partners
- Square Footage: 150,000
- Price per Square Foot: $253
- Market: Jacksonville
SRS Capital Markets SVP Jeff Gates represented the seller, a New York-based institutional investor. The buyer, AJC Partners, is a private family office with a presence in Michigan and New York City, intending to hold the property as a long-term, cash-flowing investment.
On the Map
$38,000,000
$253/SF
Office
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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
0.42%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93