Hakimian Holdings Acquires $25M Riverfront Office Building in Jacksonville
Hakimian Holdings, Inc., has completed its $25.2-million acquisition of 245 Riverside, a 136,853-square-foot riverfront office building spanning five stories in Jacksonville, FL. The property was developed in 2003 and is currently 90% leased to multiple tenants.
Karl Johnston, Mike Davis and David Hillegas of Cushman & Wakefield represented the seller, Daytona, FL-based CTO Realty Growth.
245 Riverside is minutes from the Jacksonville CBD and within the city’s up and coming micro-market of Riverside/Brooklyn, which offers live-work-play environment with new high-end Class A multi-family communities, retail, hotel and other commercial support facilities within walking distance to the asset.
“While the offering received tremendous interest from the investment community given its strategic irreplaceable riverfront location within Jacksonville’s most explosive up and coming urban infill area, Hakimian Holdings was the ideal purchaser with their immediate commitment to the to the property and overall Jacksonville community,” said Johnston.
- ◦Sale/Acquisition