River East Center
1515 SE Water Ave, Portland, OR 97214
9,290 m²
Asset Description
Jones Lang Lasalle Americas Inc. (“JLL”) is pleased to exclusively offer the opportunity to acquire Citi Campus Jacksonville, a 73-acre office park in the highly sought-after suburban office submarket, Butler/ Baymeadows. The Property is comprised of 491,386 total square feet of office space. Citi will sign a sale-leaseback for 230,450 square feet, leaving a new owner with 260,936 square feet to strategically lease up to boost income. The Property has been impeccably maintained as it served as Citi’s corporate campus since 2005. The campus boasts market leading access and a 5.4/1,000 RSF parking ratio. The irreplaceable location with unparalleled highway access and visibility is poised to capitalize on Jacksonville’s thriving economy and the influx of residents to the area.
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Attributes
Building area gross
45,651 m²
Year built
2005
Land area gross
29.69 ha
Number of floors
3
Media
Investment Highlights
WELL-MAINTAINED WITH RECENT RENOVATIONS
Recent completion of $12.9 million in capex were made on the campus. Improvements to the Property include waterproofing, revolving door replacement, and breakroom refurbishment.
FORTUNE 500 CORPORATE CAMPUS
Citi Campus Jacksonville was constructed in 2005 to the meet the industry’s highest standards for quality & efficiency. The property boasts efficient floor plates and boasts amenities including a food hall and fitness center.
A+ CREDIT RATING
Citi, an investment grade company with high credit quality and low credit risk, will execute a sale-leaseback for 47% of the Property.
FLEXIBLE ZONING
Planned Unit Development (PUD) zoning allows for multiple potential redevelopment opportunities.
CONVENIENT ACCESS
Located in the Butler/Baymeadows submarket just minutes from I-95, Philips Hwy, and SR-9B.
ROBUST BUSINESS HUB
Jacksonville is the fastest growing metro market in the state of Florida and a top 5 destination for millennials relocating.
Contact brokers
Citi Campus Jacksonville (0 Properties)
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Last updated
20 Nov 2024
