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Florida & Gulf Coast  + Office  |  January 21, 2020
David Cohen
By: David Cohen

TPG Acquires Jacksonville Office Property for $107M

San Francisco-base REIT TPG Real Estate has acquired Town Center One & Two, a 374,123-square-foot office property in Jacksonville. The sales price was $107.1 million.

The property is located on more than 25 acres at 5555 and 5335 Gate Parkway. Town Center One is a five-story, 155,423-square-foot property that was 94% leased at the time of sale to a tenant roster that included Availity, UBS Bank and Insight Global. Town Center Two is a six-story, 218,700-square-foot single-tenant building fully leased to Web.com.

Mike Davis, Rick Brugge, Karl Johnston, Rick Colon, Zachary Eicholtz and Steve Aiken of Cushman & Wakefield represented the seller, VanTrust, a Kansas City-based commercial real estate developer, in the transaction.

Connect South Florida is coming to Key Biscayne on Feb. 26, 2020. For more information, or to register, click here.

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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