Edgewood USA LLC Acquires Commonwealth Shopping Center In Jacksonville For $8.1M
1020 Edgewood Avenue North
$8,100,000
$99/SF
Building Size
81,467 SF
Asset Type
Retail
Closing
Aug 24, 2026
About this deal
AI
The Commonwealth Shopping Center, located at 1020 Edgewood Avenue North in Jacksonville, FL, is a retail asset comprising 81,467 square feet. It was sold for $8,100,000, achieving a price per square foot of $99. The property is anchored by Rowe’s IGA.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $8,100,000
- Buyer: Edgewood USA LLC
- Seller: Saglo Cos.
- Buyer's Representative: Meilian Solomon - LoKation® Real Estate
- Seller's Representatives: Drew Kristol & Kirk Olson - Marcus & Millichap
The transaction was facilitated by Marcus & Millichap, with Drew Kristol and Kirk Olson representing the seller, Saglo Cos. Meilian Solomon from LoKation Real Estate played a key role in procuring the buyer, Edgewood USA LLC, facilitating the completion of this significant retail property acquisition.
Players
Great Mills Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.96%
Cash-on-Cash
-0.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93