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Jacksonville headquarters flipped for $2.67 million profit
A limited liability company bought the building for $20.1 million and sold it 10 weeks later for $22.77 million
A limited liability company bought a marine company’s Jacksonville headquarters in a sale-leaseback deal and flipped the building 10 weeks later for a $2.67 million profit.
CH Jacksonville FL Landlord LLC sold the five-story headquarters of Crowley Maritime Corp. to Broadstone Real Estate on Dec. 8 for $22.77 million.
CH Jacksonville had purchased the building on Sept. 27 for $20.1 million from a company affiliated with Crowley Maritime, and leased the 112,060-square-foot building back to Crowley.
The Jacksonville-based marine shipping company bought the building from Aetna Life Insurance in 1993 for $6 million.
The office building at 9487 Regency Square Boulevard was constructed on a 5.4-acre site in 1984. The property is assessed for tax purposes at $5.5 million. [Jacksonville Daily Record] – Mike Seemuth