{"id":1004179246,"date":"2017-06-06T07:28:39","date_gmt":"2017-06-06T15:28:39","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004179246"},"modified":"2022-12-08T12:04:24","modified_gmt":"2022-12-08T20:04:24","slug":"jacksonville-office-asset-trades-in-23m-deal","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jacksonville-office-asset-trades-in-23m-deal\/","title":{"rendered":"Jacksonville Office Asset Trades in $23M Deal"},"content":{"rendered":"<p>By Timea Papp<\/p>\n<div id=\"attachment_1004179248\" style=\"width: 358px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/2973.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004179248\" data-attachment-id=\"1004179248\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/jacksonville-office-asset-trades-in-23m-deal\/attachment\/2973\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/2973.jpg\" data-orig-size=\"640,480\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"8800 Baymeadows Way West\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;8800 Baymeadows Way West&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/2973.jpg?w=640\" class=\"wp-image-1004179248 \" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/2973.jpg\" alt=\"8800 Baymeadows Way West\" width=\"348\" height=\"261\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/2973.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/2973.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 348px) 100vw, 348px\" \/><\/a><p id=\"caption-attachment-1004179248\" class=\"wp-caption-text\">8800 Baymeadows Way West<\/p><\/div>\n<p>CCP Commercial Real Estate acquired 8800 Baymeadows Way West, a Class A, 191,000-square-foot office building in Jacksonville, Fla. The five-story property changed hands in a $22.5 million deal.<\/p>\n<p>The commercial real estate investment company purchased the building from CRT Baymeadows Owner LLC, an affiliate of New York-based DRA Advisors, while NXT Capital LLC provided $17.8 million in <a href=\"https:\/\/www.commercialsearch.com\/news\/fort-lauderdale-office-asset-trades-for-14m\/\">acquisition financing<\/a>. The three-year loan is scheduled to mature in April 2020, according to public records. The property\u00a0was 81 percent leased at the time of the sale.<\/p>\n<p>Located directly off I-95 in Jacksonville\u2019s Butler\/Baymeadows submarket, 8800 Baymeadows Way West was completed in 1993. According to Yardi Matrix, the asset\u00a0last traded in 2004, when DRA Advisors purchased it from Citigroup for $20.8 million.<\/p>\n<p><em>\u201cWe are excited to expand our Southeast footprint with the acquisition of 8800 Baymeadows Way West. The suburban Jacksonville office investment market has been very strong over the last two years, and we felt this was a great opportunity to purchase a quality asset at a significant discount to replacement cost,\u201d<\/em> said Jeremy McLendon, president of CCP Commercial Real Estate, in prepared remarks.<\/p>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CCP Commercial Real Estate purchased the property from DRA Advisors. The transaction benefitted from a $17.8 acquisition financing originated by NTX Capital LLC.<\/p>\n","protected":false},"author":240,"featured_media":1004179248,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,1591,21742,21747],"tags":[35969,33919,35986,35968],"class_list":["post-1004179246","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-jacksonville","category-latest","category-office","tag-ccp-commercial-real-estate","tag-dra-advisors-llc","tag-jeremy-mclendon","tag-nxt-capital"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Jacksonville Office Asset Trades in $23M Deal - 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\/jacksonville-office-asset-trades-in-23m-deal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jacksonville Office Asset Trades in $23M Deal\" \/>\n<meta property=\"og:description\" content=\"CCP Commercial Real Estate purchased the property from DRA Advisors. The transaction benefitted from a $17.8 acquisition financing originated by NTX Capital LLC.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/jacksonville-office-asset-trades-in-23m-deal\/\" \/>\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=\"2017-06-06T15:28:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T20:04:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/2973.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Timea-Erika Papp\" \/>\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\/jacksonville-office-asset-trades-in-23m-deal\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/jacksonville-office-asset-trades-in-23m-deal\/\",\"name\":\"Jacksonville Office Asset Trades in $23M Deal - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jacksonville-office-asset-trades-in-23m-deal\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jacksonville-office-asset-trades-in-23m-deal\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/2973.jpg\",\"datePublished\":\"2017-06-06T15:28:39+00:00\",\"dateModified\":\"2022-12-08T20:04:24+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f58a713dcbdcb5aab2648af2aa04d6ae\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jacksonville-office-asset-trades-in-23m-deal\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/jacksonville-office-asset-trades-in-23m-deal\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jacksonville-office-asset-trades-in-23m-deal\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/2973.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/2973.jpg\",\"width\":640,\"height\":480,\"caption\":\"8800 Baymeadows Way West\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jacksonville-office-asset-trades-in-23m-deal\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Jacksonville Office Asset Trades in $23M Deal\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f58a713dcbdcb5aab2648af2aa04d6ae\",\"name\":\"Timea-Erika Papp\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/1abbd000efb56bab071b49e7aa22c0d49e96fb0374efdef0909c7744785579a7?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/1abbd000efb56bab071b49e7aa22c0d49e96fb0374efdef0909c7744785579a7?s=96&d=mm&r=g\",\"caption\":\"Timea-Erika Papp\"},\"description\":\"Timea is a senior writer covering CRE marketing, tech and real estate trends, as well as industry news in the U.S. Timea was previously a senior associate editor at Multi-Housing News and Commercial Property Executive and has an academic background in law. 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