Viking Partners acquires Jacksonville office complex for $35.8m
Viking Partners has closed on the purchase of a Class A office park in Jacksonville. The firm paid $35.8 million for the eight-building, 344,000 sqf office asset. Currently 88 percent leased, Cypress Point Business Park sits at the corner of J. Turner Butler Boulevard and Philips Highway (U.S.1). Built between 1999 and 2004, its tenants include Fanatics, U.S. Assure, Crowley Marinetime, ADT and Selene Finance. Karl Johnston, Senior Director with Cushman & Wakefield’s Capital Markets Group, arranged the transaction in conjunction with the leasing representative for the property, Mark Scott of Foundry Commercial, on behalf of the seller, Tulsa, Oklahoma-based GBR Properties, Inc.
“While the offering received tremendous interest from the investment community given its strategic location, high functionality and credit tenancy, Viking Partners, LLC was the ideal purchaser with their immediate commitment to the to the property and the overall Jacksonville community,” Johnston added.