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8900 Prominence Parkway

Dream Finder Homes Acquires Office In Jacksonville From CP Group For $22M
SOLDOffice

Dream Finder Homes Acquires Office In Jacksonville From CP Group For $22M

8900 Prominence Parkway

$22,000,000

$29/SF

Building Size

750,000 SF

Asset Type

Office

Closing

Jun 28, 2024

AI

The office property located at 8900 Prominence Parkway in Jacksonville was sold by CP Group to Dream Finder Homes for $22,000,000. The property spans 750,000 square feet with a price per square foot of $29.

Summary of transaction details:

The sale transaction was facilitated by a team from JLL consisting of Matthew McCormack, Robbie McEwan, Hermen Rodriguez, Ike Ojala, Blake Koletic, Max Lescano, and Hunter Smith. This group played a key role in representing the seller, CP Group, in the deal.

Players

Hermen Rodriguez

JLL

Broker

$1.8B

vol

23 deals

Broker

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

0.72%

Cash-on-Cash

-0.21%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93