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Florida & Gulf Coast  + Office  |  July 18, 2019
David Cohen
By: David Cohen

Starwood JV Divests Jacksonville’s Capital Plaza for $52M

CBRE arranged the $51.5 million sale of Capital Plaza, a three-building, 43-acre office campus totaling 417,513 square feet in Jacksonville’s Deerwood Park.

Capital Plaza features a power redundancy system, which includes dual feeds from JEA in case of a failed power line, and five redundant generators. The property also features a parking ratio of 6.2 spaces per 1,000 rentable square feet.

Christian Lee, Michael Harrell, José Lobón, Tyler Ploshnick and Royce Rose of CBRE represented the seller, a partnership between Starwood Property Trust and Parmenter Realty Partners, in the transaction. The buyer was a joint venture between Somerset Properties and Ten Capital Management.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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