CCP Commercial Real Estate Acquires Class A office building in Jacksonville, FL
April 27, 2017
Virginia Beach, VA (April 27, 2017) – Commercial real estate investment company, CCP Commercial Real Estate, announced today the acquisition of 8800 Baymeadows Way West, a Class A office buildings located in Jacksonville’s Butler/Baymeadows submarket. CCP Commercial Real Estate purchased the property for $22.5 million.
8800 Baymeadows Way West was built in 1993. The five story building totals more than 191,000 square feet and is at 81% occupancy.
“We are excited to expand our Southeast footprint with the acquisition of 8800 Baymeadows Way West The suburban Jacksonville office investment market has been very strong over the last two years, and we felt this was a great opportunity to purchase quality asset at significant discount to replacement cost,” said Jeremy R. McLendon, President of CCP Commercial Real Estate
About CCP Commercial Real Estate: CCP Commercial Real Estate is a real estate investment company based in Virginia Beach, Virginia that owns and operates approximately three million square feet of property. Our focus is on providing our investment clients with superior risk adjusted returns on institutional quality office and industrial properties located in our target markets throughout the Mid-Atlantic and Southeastern United States. We provide our tenants and our investors with superior customer service that values integrity, transparency, accountability, collaboration, and a passion for excellence.. The company has a highly tenured team that is accessible to their investor clients 24/7. Experience and expertise allow us to make the right investment decisions that provide solid returns on equity, capital preservation, and long term capital appreciation. For more information, please call (757) 689-1822.