In the News

Jacksonville’s Caryn Carreiro Named Woman of Influence by Jacksonville Business Journal

Cushman & Wakefield congratulates Caryn Carreiro, CCIM, Senior Property Manager with the Asset Services Team in Jacksonville on being named a “2019 Women of Influence” honoree by the Jacksonville Business Journal. This award recognizes women business leaders who have made a difference in growing their companies, mentoring the next generation and guiding the Jacksonville area into the future. The JBJ said it received a near record number of entries this year, which makes it even more of an honor that Caryn was selected for her work. Caryn joined Cushman & Wakefield in 2016 via the firm’s acquisition of Taylor & Mathis of Florida. She specializes in the management of office and flex properties in the Jacksonville market and has worked with a wide variety of owners throughout Florida, in all phases of the real estate cycle. She is highly active in the Jacksonville commercial real estate community, and has previsouly [...]

By |2019-09-12T11:51:47-04:00September 12th, 2019|In the News, Press Release|0 Comments

Office Evolution to Open Second Coworking Location in Jacksonville

Nationally Expanding Coworking Franchise has Leased 10,262 SF at The Offices at Flagler Center in the Bartram Park Area JACKSONVILLE, FL, August 12, 2019 – Office Evolution, a rapidly growing B2B franchise offering coworking space, private offices, meeting rooms, virtual offices and business services, has announced plans for a second Jacksonville location. Office Evolution Jacksonville at Bartram Park will occupy a 10,262-square-foot space at The Offices at Flagler Center and is slated to open early 2020. Cushman & Wakefield’s David Hillegas, Director, represented Office Evolution’s Michael Wielgus, Franchise Owner and Area Developer of the Jacksonville franchise, in the lease negotiations. Dave Gaglione represented the landlord, Ash Properties, a locally owned real estate development company specializing in the leasing, management and development of commercial properties. Wielgus opened the first Office Evolution in Jacksonville near the St. Johns Town Center in June 2018 to significant demand from local business owners and entrepreneurs. [...]

By |2019-08-16T17:47:40-04:00August 16th, 2019|In the News, Press Release|0 Comments

Cushman & Wakefield Represents Kite Realty in $18M Sale of Jacksonville Area Shopping Center

KPR Acquired the 174,037-SF Bolton Plaza in Orange Park, FL JACKSONVILLE, FL August 13, 2019 – Cushman & Wakefield has negotiated the $18.05 million sale of Bolton Plaza, a best-in-class, 174,037-square-foot retail plaza in the Jacksonville market. The property is anchored by industry-leading big box tenants Academy Sports and Outdoor, LA Fitness, Marshalls and Aldi. The Cushman & Wakefield Retail Capital Markets Team of Vice Chairman Mark Gilbert, Executive Director Adam Feinstein and Director Mitchell Halpern represented Kite Realty, an Indianapolis-based REIT, in the disposition. The buyer is KPR, a New York-based real estate investment company focused on retail centers in well-located East Coast markets. Senior Director Chris Lentz and Senior Director Jason Hochman, with Cushman & Wakefield’s Equity, Debt & Structured Finance Team, assisted KPR in securing financing with a loan from Synovus Bank. Bolton Plaza is located in the town of Orange Park, a highly desirable trade area [...]

By |2019-08-16T17:42:28-04:00August 16th, 2019|In the News, Press Release|0 Comments

Cushman & Wakefield Represents Savage Brothers, Inc. in Acquiring Jacksonville Industrial Property

The Industrial and Commercial Painting Company will Fully Occupy the 16,550-SF Warehouse JACKSONVILLE, FL, July 22, 2019 – Cushman & Wakefield has arranged the acquisition of a 16,550-square-foot industrial property for $730,000 on behalf of the buyer, Savage Brothers, Inc. The warehouse will serve as the industrial and commercial painting company’s southeast hub. Taylor Calfee of Cushman & Wakefield represented Savage Brothers, Inc. in the acquisition. The seller is Bailey Publishing & Communications, Inc. At 6566 Commonwealth Ave., the property is situated in the Westside Industrial submarket, which is the largest and one of the most sought-after industrial submarkets in Jacksonville. The property includes 2,275 square feet of recently built-out office space, and features two grade-level truck doors and 18- to 22-foot ceilings. In addition to the Jacksonville office, Savage Brothers, Inc. has offices in Nashville, Tennessee; Memphis, Tennessee; and Dallas, Texas. From the Jacksonville office, the company serves a [...]

By |2019-07-23T16:35:36-04:00July 22nd, 2019|In the News, Press Release|0 Comments

Cushman & Wakefield Arranges $35.8M Sale of Cypress Point Business Park in Jacksonville

Viking Partners, LLC Acquired the 344,000-SF, Suburban, Class A Office Asset from GBR Properties, Inc. JACKSONVILLE, FL, JUNE 17, 2019 – Cushman & Wakefield has arranged the sale of Cypress Point Business Park, an eight-building, 344,000-square-foot office asset in Jacksonville. The suburban, Class A office park traded for $35.8 million. Karl Johnston, Senior Director with Cushman & Wakefield’s Capital Markets Group, arranged the transaction in conjunction with Mark Scott of Foundry Commercial on behalf of the seller, Tulsa, Oklahoma-based GBR Properties, Inc. The buyer is Viking Partners, LLC, based in Cincinnati, Ohio. Cypress Point Business Park is situated within at the southeast quadrant of J. Turner Butler Boulevard and Philips Highway (U.S.1). The location is considered part of the Butler/Baymeadows office submarket, which is the largest suburban office submarket in Jacksonville with 10.7 million square feet of office space. With high barriers to entry the submarket is poised for significant [...]

By |2019-06-19T12:38:14-04:00June 19th, 2019|In the News, Press Release|0 Comments

Chase Properties Selects Cushman & Wakefield to Lease Build-to-Suit Office Project in Jacksonville

Development Site is Centrally Located Between San Marco and Downtown, Along I-95 JACKSONVILLE, FL, May 30, 2019 – Cushman & Wakefield has been named the exclusive leasing agent for Kings Avenue Station, a new office development in Jacksonville’s fast-growing Southbank submarket. The project will be a build-to-suit for a single user or large-scale anchor tenant. Chase Properties, a Jacksonville-based commercial real estate company, has retained Cushman & Wakefield Senior Director Traci Jenks to oversee leasing for the project. At 1201 Kings Ave., the development site can accommodate up to 1 million square feet of Class A office space and ground-floor retail space. The site is pad-ready with entitlements and infrastructure in place. The building will connect via pedestrian bridge to a 1,650-space parking garage, which is already complete. The user(s) will also have access to signage opportunities along Interstate 95, which sees 56 million cars a year. “This is a [...]

By |2019-06-14T13:12:04-04:00June 14th, 2019|In the News, Press Release|0 Comments

Cushman & Wakefield Negotiates Sale of Exchange South​ in Jacksonville

Cushman & Wakefield’s Karl Johnston Represented the Seller in the Disposition of Jacksonville Office and Small-bay Industrial Property​ JACKSONVILLE, FL, October 26, 2018 — Cushman & Wakefield has negotiated the sale of Exchange South, a 194,400-square-foot office and small-bay light industrial complex in Duval County. Karl Johnston of Cushman & Wakefield’s Capital Markets Group, with the leasing assistance of Mark Scott of Foundry Commercial, represented the seller in the disposition. South Florida-based Savlan Capital was the buyer. Exchange South comprises five Class A office and small-bay industrial buildings that were developed between 1990 and 1996. The property was 75.1% leased at the time of sale to 24 diversified tenants, including Konica Minolta, Ovation Credit and Omnicare. A number of tenant expansions and renewals were in-process at closing. Savlan Capital has announced plans to upgrade Exchange South through the implementation of a $2 million interior and exterior capital expenditure program. Exchange South is located at 9143 Philips Highway within the Butler/Baymeadows [...]

By |2018-11-02T16:16:15-04:00November 2nd, 2018|In the News, Press Release|0 Comments

Cushman & Wakefield’s Midyear Multifamily Report Cites Record Pricing, Deliveries in North and Central Florida

Experts Anticipate New Construction to Slow as Demand Catches Up With Supply, Although Population and Job Growth Will Continue to Bolster Multifamily Sector JACKSONVILLE, FL, September 11, 2018 – Cushman & Wakefield has released a midyear report on the North and Central Florida multifamily markets. Authored by the firm’s Florida Research Team, the report examines how such factors as the region’s dynamic population growth and strong labor trends affect multifamily real estate in the Tampa Bay, Orlando and Jacksonville markets. Over the past decade, these three regions have been some of the most active in Florida in terms of apartment demand, which was fueled by elevated gains in population. During this cycle, absorption continuously exceeded new supply and led to some sharp declines in vacancies even as the number of new units delivered annually increased. Currently, supply has started to catch up with demand, with absorption rates softening slightly as [...]

By |2018-09-11T15:59:41-04:00September 11th, 2018|In the News, Press Release|0 Comments

Rotary Club of Jacksonville Appoints Cushman & Wakefield’s Traci Jenks as President

Jenks is the Third Woman to Serve as President in the Club’s 106-Year History JACKSONVILLE, FL, July 9, 2018 – Cushman & Wakefield congratulates Senior Director Traci Jenks on being named President of the Rotary Club of Jacksonville for the 2018-19 term. With 216 members, the Rotary Club of Jacksonville is the oldest Rotary club in the state and the largest within its district, which encompasses 63 clubs in 12 counties throughout northeast and central Florida. Jenks is the third woman to lead the club since it was established in 1912. Jenks, who specializes in office leasing and sales with global commercial real estate firm Cushman & Wakefield, has been involved with the Rotary for 10 years. She has served as a member of the club’s board for two years, and previously held the role of Fellowship Chair, which is primarily responsible for event coordination, for five years. As President, [...]

By |2018-07-18T12:01:33-04:00July 10th, 2018|In the News, Press Release|0 Comments

Cushman & Wakefield Negotiates Sale of Largest Commercial Building in Jacksonville for $47.75M

Arsenault Holdings, LLC Purchased the 1.7M-SF Distribution Building from GIV Imeson, LLC JACKSONVILLE, FL, June 15, 2018 – Cushman & Wakefield has arranged the disposition of Jacksonville’s largest commercial building, One Imeson Distribution Center. The two-story, 1,701,684-square-foot distribution and office building sold for $47.75 million. Totaling 72.5 acres, the property also includes 12.3-acre container storage area, as well as a 24.2-acre future development site that can accommodate expansion and/or future build-to-suits within the park. The team of Vice Chairman Mike Davis, Senior Director Karl Johnston, Senior Director Tyler Newman, Executive Director Rick Brugge and Executive Director Michael Lerner, with Cushman & Wakefield’s National Industrial Advisory Group, represented GIV Imeson, LLC in the sale. The buyer is Louisville, Colorado-based Arsenault Holdings, LLC. One Imeson is comprised of 1,453,367 square feet (85 percent) of industrial space and 248,317 square feet (15 percent) of office space. Notable tenants include Bacardi, General Dynamics, Komyo America [...]

By |2018-06-15T11:13:20-04:00June 15th, 2018|In the News, Press Release|0 Comments