Monday, October 20, 2014

Cushman & Wakefield Brokers $13.75 Million Sale of Crossroads Square Shopping Center in Jacksonville, FL

Karl Johnston
JACKSONVILLE, FLORIDA- The Capital Markets Group of Cushman & Wakefield of Florida, Inc. announced today that it has finalized the sale of the Crossroads Square Shopping Center, a 174,153 square foot community shopping center anchored by Floor & Décor, Office Depot, and Harbor Freight Tools.

The shopping center is located at 8102 Blanding Boulevard in Jacksonville, Florida within the Orange Park retail submarket.

 The property, previously owned by Global Fund Investments, LLC, was purchased by “Sierra Building Group”, a Canadian investor based out of Toronto, Ontario for a sales price of $13,750,000. On Tuesday, October 14th, 2014.

Karl Johnston, Senior Director, Mark Gilbert, Executive Vice President, and Adam Feinstein, Executive Director, of Cushman & Wakefield’s Capital Markets Group handled the transaction for Global Fund Investments, LLC.

Mark Gilbert
Joel Coykendall of Northmarq Capital’s Jacksonville office handled the financing and loan origination for the buyer.

Originally developed in 1985, Crossroads Square is situated on a strategic 18.84 site offering a Regional Mall and I-295 beltway setting at the gateway to one of Jacksonville’s largest suburban communities.

Crossroads Square offers a strong fundamental and strategic location with an outstanding occupancy history within its submarket. 

While the offering received strong interest from the investment community Sierra Building Group was the ideal purchaser for the center, said Johnston, Senior Director with Cushman & Wakefield's Jacksonville office.

For a complete copy of the company’s news release, please contact:

Karl Johnston
Senior Director

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