Cushman & Wakefield Announces Sale of Baywood Center Office Buildings
17 Dec, 2010, Jacksonville
Cushman & Wakefield of Jacksonville's Capital Markets Group announced the sale of Baywood Center located at 9424-9428-9432 Baymeadows Road within the Butler-Baymeadows suburban submarket.
Karl Johnston, Senior Director of C&W's Capital Markets Group represented the seller, KBS Realty Advisors, in the $6,800,000 transaction which represents the largest office building sale in the Jacksonville MSA for 2010.
Baywood Center consists of one (1) six (6) story and two (2) two (2) story suburban office buildings totaling 162,864 square feet. Developed in 1985 Baywood Center was 78% leased at closing. The building is anchored by CH2M Hill and Golder & Associates. The buyer, David E. Gonzales Corporation, is a Jacksonville private capital investor. The seller, KBS Realty Advisors, is a Boston-based REIT.