Stein Mart Building Sold for $23.7M

Lingerfelt CommonWealth Realty Partners recently purchased the Stein Mart building for $23.7M from Parkway Properties. The 10-story building is about 197K SF and is located in the downtown CBD (on the Southbank). The building was about 97% occupied at the time of the sale, and anchored by Stein Mart, who occupies about half of the building and has naming rights to the building. Lingerfelt also owns the Riverplace Tower across the street, which they bought from Gate in 2014 for $29M .

Karen Brune Mathis with the Jacksonville Business Journal covered the story.

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 27, 2016, in Downtown, JAX Daily Record, Office, sale, Transactions, Uncategorized and tagged , , , . Bookmark the permalink. Leave a comment.

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