MG3 Reit LLC Acquires Office Property In Jacksonville For $43.8M
6651 Gate Parkway, Jacksonville, FL, USA
$43,800,000
$363/SF
Building Size
120,407 SF
Asset Type
Office
Closing
Aug 18, 2020
About this deal
AI
An office property located at 6651 Gate Parkway in Jacksonville was recently sold in a transaction valued at $43,800,000. The property spans 120,407 square feet and was sold at a price per square foot of $364. The sale took place on August 18, 2021.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $43,800,000
- Address: 6651 Gate Parkway, Jacksonville
- Market: Jacksonville
- Buyer: MG3 Reit LLC
- Seller: Real Capital Solutions
- Brokers: Mike Davis, Karl Johnston, Rick Brugge, Rick Colon, Dominic Montazemi, Zach Eicholtz, and Chloe Strada - Cushman & Wakefield
The sale was facilitated by a team of brokers from Cushman & Wakefield, including Mike Davis, Karl Johnston, Rick Brugge, Rick Colon, Dominic Montazemi, Zach Eicholtz, and Chloe Strada. They represented the buyer and seller in the transaction.
On the Map
$43,800,000
$363/SF
Office
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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
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93