Ben Hakimian Of Hakimian Holdings Acquires Retail Center In Jacksonville For $14.425M
3600 University Boulevard West
$14,425,000
$136/SF
Building Size
106,000 SF
Asset Type
Retail
Closing
Aug 18, 2025
About this deal
AI
The retail asset is located at 3600 University Boulevard West in Jacksonville. It encompasses a total of 106,000 square feet and sold for $14,425,000, translating to a price per square foot of $136. The shopping center is fully leased and includes anchors such as LA Fitness, T.J. Maxx, CVS, Bealls Outlet, Dollar Tree, and McDonald’s.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $14,425,000
- Square Footage: 106,000
- Price per Square Foot: $136
- Buyer: Ben Hakimian - Hakimian Holdings
- Address: 3600 University Boulevard West, Jacksonville
Ben Hakimian, representing Hakimian Holdings, has acquired the shopping center and plans to rebrand it as Gates of University Boulevard. The firm intends to implement cosmetic upgrades and has shown continued interest from national tenants in the South Jacksonville corridor.
On the Map
$14,425,000
$136/SF
Retail
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Jacksonville 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
1.10%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93