Transwestern Brokers Sale of High-Vacancy Jacksonville Tower
Transwestern's Miami-based managing director John Bell helps market and sell an underperforming office asset in downtown Jacksonville for $15 million.
July 18, 2017 at 02:00 PM
4 minute read
Transwestern managing director John Bell drew in a pool of offers from investors as far away as London when he marketed a 22-story office tower in the heart of downtown Jacksonville.
The One Enterprise Center, a 317,571-square-foot trophy office property, sold for $15.2 million to Los Angeles-based Michael Development Corp., which is managed by Joseph and David Michael. That works out to $48 per square foot.
Miami-based Bell listed the asset on behalf of Maryland-based CWCapital Asset Management, the seller and special servicer that controlled the property after it was foreclosed on a few years back.
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