Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced that it is exclusively listing for sale two single-tenant office buildings, one in Orange Park, Florida and one in Jacksonville, Florida. Both properties are triple-net-leased and 100 percent occupied by Enhanced Resource Center (ERC), a leading provider of customer experience management services. The 35,200-square-foot office asset located in Orange Park is listed at $7.55 million and the 33,009-square-foot Jacksonville office building is priced at $6.86 million.
“With over eight years remaining on the leases, these two stabilized assets offer investors steady, passive cash flow in income-tax free Florida,” says Douglas K. Mandel, senior managing director investments in Marcus & Millichap’s Fort Lauderdale office.
Mandel and David Weinberg, first vice president investments in the firm’s Detroit office, are representing the seller.
Built in 1993, the Orange Park property was renovated-to-suit for ERC in 2007 and houses the company’s call center. The building is located on 2.5 acres just south of Interstate 295, within walking distance of the nearly 1 million-square-foot Orange Park Mall.
Constructed in 1978 and finished-to-suit in 2007, the Jacksonville asset serves as ERC’s corporate headquarters. It is located on more than four acres just east of Phillips Highway (U.S. Highway 1) and just west of Interstate 95.
Last year, Mandel arranged the sale of Acosta Inc.’s three-story, 88,062-square-foot corporate headquarters in Jacksonville for $15,790,427.
About Marcus & Millichap (NYSE: MMI)
With over 1,600 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 8,700 transactions in 2015 with a value of approximately $37.8 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit:www.MarcusMillichap.com
