Narut Land Company Inc. Acquires Lakeside Plaza Office Buildings In Jacksonville For $4.3M

Narut Land Company Inc. has purchased the 5.3-acre Lakeside Plaza in Baymeadows, Jacksonville. The property consists of three office buildings totaling 64,593 square feet. The sale price for this acquisition was $4.3 million, resulting in a price per square foot of $67.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $4,300,000
• Address: 8665, 8667 & 8669 Baypine Road
• Market: Jacksonville
• Acres: 5.3

The buyer of Lakeside Plaza is Narut Land Company Inc., represented by Tom Narut. The seller of the property is Acorn Property Holdings. The deal was facilitated by brokers Daniel Burkhardt and Keith Goldfaden from NAI Hallmark. NAI Hallmark will also handle property management and leasing for Lakeside Plaza. Despite current capital market conditions, there has been strong demand for quality office investment properties.