{"id":1004148917,"date":"2016-07-27T07:27:33","date_gmt":"2016-07-27T15:27:33","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004148917"},"modified":"2022-03-03T02:10:47","modified_gmt":"2022-03-03T10:10:47","slug":"the-stein-mart-building-changes-hands-in-jacksonville","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/the-stein-mart-building-changes-hands-in-jacksonville\/","title":{"rendered":"The Stein Mart Building Changes Hands in Jacksonville"},"content":{"rendered":"

By Robert Demeter<\/em><\/p>\n

\"The<\/a>

The Stein Mart Building<\/em><\/p><\/div>\n

Jacksonville<\/strong>\u2014Lingerfelt CommonWealth Realty Partners LLC<\/a> has announced the acquisition of The Stein Mart Building, a 196,649-square-foot Class A office asset located in downtown Jacksonville. Lingerfelt CommonWealth purchased the high-rise from Parkway Properties<\/a> for $23.6 million.<\/p>\n

The Stein Mart Building, currently 95.8 percent occupied, is a 10-story office building equipped with a fitness center and six-story parking garage featuring 510 spaces. Headquarters to Stein Mart Inc.<\/a>, the Stein Mart Building is also home to more than a dozen additional companies, which make up its diversified and stabilized tenant roster of long-term lease contracts.<\/p>\n

Lingerfelt CommonWealth will operate the assets via its vertically integrated operating platform. Commonwealth Commercial Partners<\/a>, the company\u2019s property management affiliate, will handle all aspects of the day-to-day asset and property management. JLL<\/a> will handle the leasing and marketing.<\/p>\n

The property is located in the city\u2019s Southbank submarket along the St. Johns River and the newly constructed Southbank Riverwalk.<\/p>\n

Lingerfelt CommonWealth also recently acquired Towne Place at Greenbrier<\/a>, an upscale lifestyle retail center in Chesapeake, Va. in the Hampton Roads area.<\/p>\n

Photo courtesy of Yardi Matrix<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Headquarters to Stein Mart Inc., the 10-story office building is currently 96 percent leased and it home to more than a dozen companies.<\/p>\n","protected":false},"author":59,"featured_media":1004148920,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,1591,21742,21747],"tags":[],"class_list":["post-1004148917","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-jacksonville","category-latest","category-office"],"acf":[],"yoast_head":"\nThe Stein Mart Building Changes Hands in Jacksonville - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/the-stein-mart-building-changes-hands-in-jacksonville\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Stein Mart Building Changes Hands in Jacksonville\" \/>\n<meta property=\"og:description\" content=\"Headquarters to Stein Mart Inc., the 10-story office building is currently 96 percent leased and it home to more than a dozen companies.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/the-stein-mart-building-changes-hands-in-jacksonville\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-07-27T15:27:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-03T10:10:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/3606-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"512\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Robert Demeter\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/the-stein-mart-building-changes-hands-in-jacksonville\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/the-stein-mart-building-changes-hands-in-jacksonville\/\",\"name\":\"The Stein Mart Building Changes Hands in Jacksonville - 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