6371 Collins Road, Jacksonville, FL, 32244, US

The Kensley

Asset Description

JLL is pleased to offer The Kensley (Property), a 300-unit investment opportunity located in Jacksonville’s resilient southwest submarket. Built in 2004, the Property is conveniently located at the intersection of Interstate 295 and Collins Road. The Kensley offers a highly-desirable mix of studios, one, two and three-bedroom floorplans, with all units offering ground floor entry and 9-foot ceilings throughout. All 300 units have received a meticulous, top-of-market interior renovation that rivals nearby new construction assets and have proven to be in extremely high demand for area residents. The “feel” of the community has always been highly sought after by area renters with the two-story townhome appearance and the convenience of the attached garages, making The Kensley a consistent and reliable investment asset.

For residents, convenient access is key. In 2016, a new interchange was built at Collins Road and Interstate 295 that created a new market/retail trade area in the North Orange Park/West Jacksonville submarket complete with sector-dominant retailers such as Costco, Walmart and Starbucks. The interchange shifted the location of choice for renters from south of Interstate 295 along Wells Road to north of Interstate 295 along Collins Road. This has led to the growing importance of Collins Road as a new hub of activity in southwest Jacksonville.

The Property also offers a convenient commute to the city’s largest employment centers. Cecil Commerce Center, Downtown Jacksonville and the Butler Corridor office submarket can all be reached within a short twenty-minute drive.

The Kensley represents an incredible opportunity to acquire a highly sought-after, mid-2000’s vintage asset in the most desirable state in America. With nearly 100,000 new residents moving to the Jacksonville metro from 2020 – 2024 and over 50,000 new jobs in the same period, Jacksonville is poised to continue it’s rise as one of the Southeast’s primary investment markets.

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Attributes

Number of units

300

Year built

2004

Building area net

257,262 sf

Media

Investment Highlights

Unique, Fully Renovated Property

Since acquiring the Property in 2020, the current owners have successfully renovated all 300 units offering a unique opportunity for a new owner to realize the value-add benefit without the construction or lease-up risk.

Bridging The Gap

The completed renovation helps to bridge the vintage and level-of-finish gap between the early-2000’s product along Collins Road and in neighboring Oakleaf and the new construction deals currently approaching stabilization.

Locational Dominance

Orange Park has rapidly become an area of interest for investors looking to enter the Jacksonville market due to expanding retail, services, jobs and rent growth. The Kensley is located in what is forecasted to be Jacksonville’s #2 rent growth submarket over the next four years and is the only submarket expected to have positive rent growth in 2025!

Jacksonville Has Never Been More Desirable

Jacksonville's impressive economic growth and appeal are evidenced by its high rankings in job markets and employment growth, and its significant domestic in-migration, making it a standout destination for job seekers and new residents in Florida and across the United States.