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

Property Image
SOLD
$22,000,000
Blake Koletic
Robbie McEwan
Matthew (Matt) McCormack
+ 4

Florida

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Office750,000 SF
Sold 06/28/2024
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Property Image
SOLD

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

8900 Prominence Parkway

See Similar Deals
Office750,000 SF
Sold 06/28/2024
Blake Koletic
Robbie McEwan
Matthew (Matt) McCormack
+ 4
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$29
Total Square Footage:750,000 SF
Transaction Type:Sale

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
Hermen Rodriguez
23 deals$1.8B volume(305) 448-5332
BROKER
Ike Ojala
JLL
Ike Ojala
25 deals$2B volume(305) 774-6810
BROKER
Matthew (Matt) McCormack
JLL
Matthew McCormack
31 deals$2.8B volume
BROKER
Robbie McEwan
JLL
Robbie McEwan
16 deals$864.8M volume
BROKER
Max Lescano
JLL
Max Lescano
10 deals$982.9M volume(954) 812-6234
BROKER
Blake Koletic
JLL
Blake Koletic
17 deals$1.5B volume
BROKER
Hunter Smith
JLL
Hunter Smith
14 deals$1.2B volume
BROKER

Details

SOLD
IMAGE: Hermen Rodriguez, Blake Koletic, Ike Ojala, Max Lescano, Matthew McCormack, Hunter Smith & Robbie McEwan DATE: 06/28/2024 ADDRESS: 8900 Prominence Parkway MARKET: Jacksonville ASSET TYPE: Office BUYER: Dream Finder Homes SELLER: CP Group SELLER'S REP: Matthew McCormack (@InstantMack), Robbie McEwan, Hermen Rodriguez, Ike Ojala, Blake Koletic (@BlakeKoletic), Max Lescano & Hunter Smith - JLL (@JLL) SALE PRICE: $22,000,000 SF: 750,000 ~ PPSF: $29

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,173,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$78,161.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$104,291.22
Annual Debt Service$1,251,494.69