Press Release: RCS Purchases Single-Story Suburban Office in the Southpoint Area of Jacksonville
Contact: Adam Abeln, Vice President – Acquisitions
FOR IMMEDIATE RELEASE
REAL CAPITAL SOLUTIONS PURCHASES SINGLE-STORY SUBURBAN OFFICE IN THE SOUTHPOINT AREA OF JACKSONVILLE
Property Located Within the Economic Focal Point of Northern Florida
Real Capital Solutions is proud to announce the purchase of 6800 Southpoint Parkway, a single-story, 78,589 square foot office building in Jacksonville, Florida. The purchase was completed on January 25, 2019. The 6800 Southpoint Parkway building is situated within one of Jacksonville’s premier suburban office parks, Southpoint Business Park. The property was built in 1984 and has a highly functional layout with a 6.8/1,000 parking ratio. The building is currently 38 percent leased to two national tenants.
“We see tremendous value in this property with its close proximity to the rapidly expanding suburban office corridor along I-95, and other major access roads,” said Adam Abeln, VP of Acquisitions. “We are initiating immediate capital improvements, selectively white boxing vacancies, and offering aggressive rental rates, tenant improvements and leasing commissions. There has been significant leasing absorption within Jacksonville and we expect the property to lease quickly by making the planned capital improvements and working with the brokerage community.
This suburban office facility includes attractive landscaping with mature trees, creating a park-like setting, floor-to-ceiling glass along the perimeter of the building, and flexible bay sizes with various levels of office build-out. This feature will give future tenants the option to modify work spaces and customize the layout to their needs.
6800 Southpoint Parkway Center is strategically located within the economic focal point of Northern Florida and one of the state’s fastest growing metropolitan areas. This growing suburban area within Duval County has a projected population growth of approximately nine percent within a five mile radius over the next six years.
About Real Capital Solutions
Real Capital Solutions is a highly entrepreneurial real estate company that invests smart capital and provides practical solutions for real estate opportunities. For over 30 years, RCS has achieved great success investing in entrepreneurial real estate ventures. During that time, the company has purchased and managed more than 365 real estate investments totaling approximately $3.5 billion. Real Capital Solutions’ investment performance is a result of a solutions-oriented approach to property acquisition, development, management and divestiture. RCS will continue to produce exceptional returns for its investors by working with operating partners that share the same entrepreneurial drive and operational precision in order to achieve extraordinary performance. Learn more at https://realcapitalsolutions.com.
Our Mission at Real Capital Solutions includes a strong focus on giving back. Marcel Arsenault, CEO and Founder, and his wife, Cynda Collins Arsenault, have endowed three foundations during the past decade, including the One Earth Future Foundation in Broomfield, Colorado. One Earth Future seeks to develop and operate multi-level, multi-stakeholder engagement to bring empirical solutions to global problems. Learn more at https://oneearthfuture.org/.