Rosemont Realty Acquires Jacksonville's Three-Building Concourse Office Complex on I-95
Acquisition marks fifth property in Florida to join Rosemont Realty's growing portfolio
SANTA FE, N.M., Jan. 28, 2013 /PRNewswire/ -- Rosemont Realty, LLC, a leader in commercial real estate acquisition and management with holdings of approximately 16 million square feet of commercial office space at a value exceeding $1.5 billion, has acquired the three-building Concourse office complex in Jacksonville, Fla.
The acquisition of Concourse has added 288,147 square feet of Class A office space to Rosemont Realty's portfolio. Rosemont Realty purchased the office building from Northwestern Mutual for an undisclosed amount.
In 2012, Rosemont Realty acquired eight Class A or Class B commercial properties, representing more than 2.5 million square feet valued at approximately $250 million. The 2012 acquisitions were in Albuquerque, Birmingham, Denver, Houston, Memphis, Nashville, San Antonio and Tulsa.
Concourse fronts I-95 on Belfort Road in Jacksonville and is just one-quarter mile from the J.T. Butler Boulevard (SR 202) interchange. The complex consists of three, four-story office buildings, constructed between 1998 and 2001. Each building contains approximately 96,000 rentable square feet.
The Concourse complex is currently leased at 88 percent occupancy. Tenants include DeVry University, SJ&P advertising agency, Diversified Clinical Services, Meridian Technologies, Gresham, Smith and Partners, and Pulte Homes, among others.
"The Concourse in Jacksonville is Rosemont's first acquisition in 2013," said Daniel Burrell, CEO of Rosemont Realty. "We have confidence in the Jacksonville market and will continue to evaluate high quality opportunities in Florida's high growth markets."
Rosemont Realty now controls five commercial office properties in Florida, representing nearly 720,000 square feet, including:
Metro Parkway (Fort Myers)
Westland One (Jacksonville)
Butler Pointe (Jacksonville)
Cypress Pointe (Tampa)
NAI Hallmark Partners will continue to provide property management and leasing services for the Concourse property (Patrick Thornton 904.404.4454).
About Rosemont Realty, LLC
Headquartered in Santa Fe, New Mexico, Rosemont Realty, LLC, is a market leader in commercial real estate acquisition and asset management. The company has approximately 16 million square feet in more than 165 office buildings in 25 states across the United States, valued at more than $1.5 billion.
Founded in 1991, Rosemont Realty has eight regional offices in Albuquerque, Atlanta, Dallas, Denver, Houston, New York, San Antonio and Washington, D.C. For more information, please visit RosemontRealty.com.
SOURCE Rosemont Realty, LLC