{"id":1004338220,"date":"2019-07-15T05:18:20","date_gmt":"2019-07-15T13:18:20","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004338220"},"modified":"2019-07-15T05:18:20","modified_gmt":"2019-07-15T13:18:20","slug":"jacksonville-office-campus-commands-52m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jacksonville-office-campus-commands-52m\/","title":{"rendered":"Jacksonville Office Campus Commands $52M"},"content":{"rendered":"<div id=\"attachment_1004338226\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/Capital-Plaza-e1563184365287.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004338226\" data-attachment-id=\"1004338226\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/jacksonville-office-campus-commands-52m\/capital-plaza\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/Capital-Plaza-e1563184365287.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=\"Capital Plaza\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Capital Plaza&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/Capital-Plaza-e1563184365287.jpg?w=640\" class=\"wp-image-1004338226 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/Capital-Plaza-e1563184365287.jpg\" alt=\"Capital Plaza\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/Capital-Plaza-e1563184365287.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/Capital-Plaza-e1563184365287.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004338226\" class=\"wp-caption-text\">Capital Plaza<\/p><\/div>\n<p>Starwood Property Trust, in partnership with Parmenter Realty Partners, has sold Capital Plaza, a three-building, 417,513-square-foot office campus in Jacksonville, Fla. A joint venture between Somerset Properties and Ten Capital Management acquired the asset for $51.5 million.&nbsp;<\/p>\n<p>Located at 10301 and 10401 Deerwood Park Blvd. in the Butler\/Baymeadows submarket, Capital Plaza is 11.4 miles from downtown Jacksonville, providing access to interstates 95 and 295. St. Johns Town Center, a 51-acre mall and lifestyle center, is less than 2 miles from the property, across the J. Turner Butler Boulevard. Jacksonville International Airport is within a 30-minute drive north.<\/p>\n<p>The business park consists of Class A buildings developed in 1990 and 1999 on 42.7 acres, per Yardi Matrix data. The property provides a parking ratio of 6.2 spaces per 1,000 square feet. Capital Plaza also features a power redundancy system, which includes dual feeds from JEA in case of a failed power line, as well as five redundant generators. During their ownership, the sellers invested $3 million in common area improvements including restroom renovations, a roof replacement and major mechanical work.&nbsp;<\/p>\n<p>CBRE\u2019s Christian Lee, Michael Harrell, Jos\u00e9 Lob\u00f3n, Tyler Ploshnick and Royce Rose represented the seller in the transaction. According to Yardi Matrix, the property last sold in 2016 for $24 million.<\/p>\n<p>In June, another business park within the Butler\/Baymeadows submarket traded approximately 5 miles west of Capital Plaza. Viking Partners <a href=\"https:\/\/www.commercialsearch.com\/news\/cushman-wakefield-brokers-36m-business-park-sale-in-jacksonville\/\">acquired the 344,000-square-foot property<\/a> for $35.8 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A joint venture between Somerset Properties and Ten Capital Management acquired the three-building business park. CBRE assisted the seller in the transaction.<\/p>\n","protected":false},"author":870,"featured_media":1004338226,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,1591,21742,21747],"tags":[32789,32941,36213,33469,38386],"class_list":["post-1004338220","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-jacksonville","category-latest","category-office","tag-cbre","tag-parmenter-realty-partners","tag-somerset-properties","tag-starwood-property-trust","tag-ten-capital-management"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Jacksonville Office Campus Commands $52M - 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-campus-commands-52m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jacksonville Office Campus Commands $52M\" \/>\n<meta property=\"og:description\" content=\"A joint venture between Somerset Properties and Ten Capital Management acquired the three-building business park. 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