MG3 Reit LLC Acquires Office Property In Jacksonville For $43.8M
SOLD
$43,800,000
Florida
See Similar DealsOffice120,407 SF
Sold
SOLD
MG3 Reit LLC Acquires Office Property In Jacksonville For $43.8M
6651 Gate Parkway, Jacksonville, FL, USA
See Similar DealsOffice120,407 SF
Sold
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$363
Total Square Footage:120,407 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,335,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$155,612.16
Cash-on-Cash Return-1.27%
Monthly Debt Service$207,634.35
Annual Debt Service$2,491,612.15
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