JACKSONVILLE, FLA., June 28, 2017 (GLOBE NEWSWIRE) — Transwestern today announces it closed the $15.2 million sale of One Enterprise Center, a 317,571-square-foot, 22-story office tower at 225 Water St. in downtown Jacksonville, Florida. Transwestern Managing Director John Bell negotiated the sale of the landmark asset to Rosecrans 2004 LLC.
“This listing was a rare opportunity to acquire a trophy building with compelling value-add potential. Currently 51 percent leased, the asset is positioned to experience an expedited lease-up with new, long-term ownership,” said Bell. “Universally considered one of the top office buildings in the Jacksonville Central Business District, the new ownership is committed to returning the building to its place as downtown’s most sought-after business address.”
Featuring unobstructed water views from its location at the center of downtown’s amenity base, One Enterprise Center is steps from the Times-Union Center for the Performing Arts, The Jacksonville Landing’s retail and restaurants, as well as the St. Johns River waterfront. Its distinctive glass panel exterior features a dramatic marble lobby and a glass atrium dome with the tower directly connected to a 354-room Omni Hotel. The office and hotel share a parking garage, providing One Enterprise Center with one of the CBD’s best available parking ratios at 2.26 spaces per 1,000 square feet.
“Institutional investors clearly believe in Jacksonville’s resurgence and value, demonstrated by the 35 competitive offers from domestic and foreign capital sources. This was the most sought-after office investment in Jacksonville this year,” continued Bell.
Bell has executed real estate transactions in excess of $3 billion across all asset types with a primary focus in the Florida and Southeast U.S. markets. He is an expert in trophy and distressed assets and has a diverse roster of institutional, private and special servicer clients.
Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Tenant Advisory, Capital Markets, Asset Services and Research, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern. For updates from the Southeast region, follow @TranswesternSE.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/67795dea-1af6-4112-bab6-091d01d82cc5
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/338af2c5-d3ba-486d-8e6b-61bab19a127a
CONTACT: Stefanie Lewis Transwestern 713.272.1266 [email protected]