Phoenix Realty News

Oct. 15, 2012
Newmark Grubb | Phoenix Realty Group NEGOTIATES SALE OF LAND INTENDED FOR SHANDS JACKSONVILLE NORTH

   Bert Smith recently negotiated the sale of vacant land on Duval Road in North Jacksonville on behalf of the Leon Franklin Smith Trust. The land, containing approximately 56,000 square feet, was purchased by the Shands Jacksonville Foundation, Inc. for $985,000, as an outparcel for the proposed Shands Jacksonville North located adjacent to River City Market. Pate Foshee of CastleRock Realty, LLC, represented the buyer. ...Read the full story

Sept. 24, 2012
Newmark Grubb | Phoenix Realty Group CLOSES DEAL IN JACKSONVILLE'S NORTHSIDE

   Aaron Zarle, Bryan Bartlett and John Richardson recently brokered a sale on behalf of the seller for a 240,000-square-foot distribution center at Imeson International Industrial Park located at 10089 North Main Street in North Jacksonville. The building was previously owned by W. P. Carey & Co. LLC, an investment management company that provides long-term sale-leaseback and build-to-suit financing for companies worldwide and manages a global investment portfolio of approximately $12.7 billion. The building, currently vacant, was purchased by investors who plan to renovate and lease the space. ...Read the full story

Thur, April 26 2012
Our president, JR Richardson wrote an article that was published in the April, 2012 Issue of the Southeast Real Estate Business Journal.

   The dust seems to be settling in northeast Florida's industrial market after the recession. Sales are still down and asking prices continue to decline for traditional industrial properties, but institutional investors throughout the state seem to be in acquisition mode. While investors are looking, there are not many properties for sale. Despite the fact that Jacksonville is the third largest industrial market in Florida not many institutional-quality industrial properties come onto the market frequently. ...Read the full story

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