By Jeff Hamann
Prime Realty has closed the sale of the two-building, 54,730-square-foot Plaza 295 in southwestern Jacksonville, Fla. The flex industrial asset sold for $3.5 million to a private investor, who funded the acquisition with a $2.6 million mortgage held by CenterState Bank, according to public records.
The seller, the Rahimi brothers, purchased the property out of foreclosure for $891,000 in March of 2014. Located at 7060 103rd St., Plaza 295 sits alongside Interstate 295 and is exposed to an average of 95,000 cars per day. The clear-span buildings feature 28-foot clear heights and most of the buildings’ 15 units were built out over the past two years.
Plaza 295 is situated next to a self-storage facility operated by U-Haul and is across the street from a Hospitality Inn & Suites. The property is 85 percent leased to a diverse mix of small tenants, including Hohrath’s Heating & Cooling, Prism Medical Products and Glass Doctor of Jacksonville.
Image via Google Maps