Regions Bank Acquires Existing Downtown Location for $142/SF – CoStar Group

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Regions Bank Acquires Current Location – CoStar Group.

From CoStar:
Regions Bank acquired 51 West Bay St. in Jacksonville, FL from Laney & Duke Terminal Warehouse Co. for $1.539 million, or about $142 per square foot.

The two-story, 10,280-square-foot historic retail building was built in 1909 and is located in the Northbank neighborhood of downtown Jacksonville.

Regions Bank was a tenant in the building and exercised the option to purchase. The tenant had been occupying the space since 2009 and, due to the long tenancy, was able to make a deal with the seller.

About Ernie Saltmarsh

Ernie works for Colliers International in the Northeast Florida Investment Services Group. The team includes Robert Selton, Scott Rogers, Ernie Saltmarsh and Adrienne Miller. Ernie works with buyers who are looking to invest in commercial real estate and sellers who are looking to dispose of investment assets. Ernie's background in research, marketing and finance provide the vital skills necessary to serve his clients.

Posted on July 22, 2014, in Downtown, Office, Single Tenant Net Leased (STNL), Transactions and tagged , , , . Bookmark the permalink. Leave a comment.

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