Salem 1440 LLC Acquires Dunn Ave Plaza From Dunn Plaza Investments LLC For $5.13M

The retail property located at 1440 Dunn Avenue in Jacksonville has been sold for $5.13 million. Spanning 42,570 square feet on 3.37 acres of land, Dunn Ave Plaza was acquired by Salem 1440 LLC from Dunn Plaza Investments LLC. The property boasts 26 tenants occupying suites ranging from 780 to 4,200 square feet, making it a strategic investment opportunity in the Jacksonville area.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $5,130,000
• Market: Jacksonville
• SF: 42,570
• PPSF: $121
• Address: 1440 Dunn Avenue
• Buyer: Salem 1440 LLC
• Seller: Dunn Plaza Investments LLC
• Broker: Simon Grigoryan - Marcus & Millichap

The sale of Dunn Ave Plaza was facilitated by Simon Grigoryan from Marcus & Millichap. The transaction garnered substantial interest with eight offers within a two-week period, indicating a competitive market environment for this retail property. The center is 67% occupied and is strategically located less than a mile from Interstate 95, further enhancing its investment value.