The Real Deal Miami

Transwestern marketing Jacksonville office complex

Summit at Southpoint office complex is 92 percent occupied and valued at $35.25 million
May 29, 2016 09:00AM

Summit at Southpoint in Jacksonville

Summit at Southpoint in Jacksonville

Transwestern will serve as exclusive sales agent for a complex of four Class A office buildings in Jacksonville valued at $35.25 million.

Bluerock Real Estate LLC owns the buildings at 6410-6440 Southpoint Parkway in Jacksonville, which have a total of 260,664 square feet.

The office complex, called Summit at Southpoint, is 92 percent occupied and its tenants include BB&T, Chicago Title, SP Fiber Technologies and U.S. Bank.

 Transwestern managing director John Bell, who is marketing Summit at Southpoint, said in a press release that comparable office space is scarce: “The lack of comparable vacant space in the [Southpoint] submarket creates an opportunity to supplement the existing cash flow through the lease-up of the asset’s remaining space in the landlord-favorable market.”

Summit at Southpoint is a campus-like property with a gym and a recreational gazebo among other on-site amenities. Restaurants, bakeries, cafes and hotels are located near the property, which fronts Interstate 95.

The office-vacancy in Jacksonville is 3.4 percentage points lower than a year ago, according to Bell.