Jacksonville, Fla. (June 17, 2015) — Newmark Grubb Phoenix Realty Group (NGPRG) recently completed the $2.8 million sale of a 61,000 square-foot warehouse/office building located at 8443 Baymeadows Road in Jacksonville, Florida. Bryan Bartlett, Senior Vice President, and John Richardson, President, represented a private investor in the purchase.
Jim Sebesta, CEO of Newmark Grubb Phoenix Realty Group represented the Owner, TWM Partners, LLC.
The buyer is a national investor that currently owns other assets in Jacksonville and acquired 8443 Baymeadows Road as an additional investment with plans to renovate and upgrade the building.
“The Jacksonville market continues to show significant strength as the market rebounds in both the industrial and office markets. The purchase of this asset is a sign that out-of-town capital continues to see value in Jacksonville and its future,” said Mr. Bartlett.
About Newmark Grubb Phoenix Realty Group
Newmark Grubb Phoenix Realty Group is a full-service commercial real estate company serving Northeast Florida and Southeast Georgia. The firm has completed more than 80 million square feet of transactions since its inception in 1993. Today, Newmark Grubb Phoenix Realty Group provides industrial, office, retail and investment brokerage services representing tenants, buyers, landlords and sellers, as well as third-party and institutional investors of every size. Through Newmark Grubb Knight Frank, one of the world’s leading commercial real estate advisory firms, our clients have access to opportunities in every major market throughout the country, as well as across the globe. For further information, visit www.phoenixrealty.net or call 904.399.5222.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,000 professionals operate from more than 330 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage
services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc. (NASDAQ: BGCP), a leading global brokerage company servicing the financial and real estate markets. For further information, visit www.bgcpartners.com.