SRS Real Estate Partners announced today the $38 million sale of a 150,000-square-foot office property located at 5201 Gate Parkway in Jacksonville, FL. Built in 2006 and situated on 13 acres, the property is fully occupied by Deutsche Bank, who is on a long-term, corporate-guaranteed lease.
SRS Capital Markets Senior Vice President Jeff Gates, who is out of the firm’s San Francisco office, represented the seller, a New York-based institutional investor. The buyer was AJC Partners, LLC, a private family office based in Michigan and New York City, who plans to hold the property as a long-term, cash-flowing investment.
“This asset’s combination of a prestigious tenant and favorable lease structure made it an attractive opportunity for the buyer, who recognized the value of a stable, income-generating property in the coveted Jacksonville market,” said Gates, who specializes in investment sales and providing real estate advisory services to institutional investors, developers, and private clients. “The transaction aligns with the seller’s goal of reinvesting capital into new investment opportunities after achieving their ownership targets.”
He added that the asset was highly sought after due to its prime location, stable tenant, and annual rental increases.
In 2024, SRS Capital Markets completed approximately $2.5 billion in deal volume comprised of more than 600 transactions in 45 states. SRS currently has in excess of 740 properties actively on the market with a market value surpassing $3.5 billion.
About SRS Real Estate Partners
Founded in 1986, SRS Real Estate Partners is building upon its retail foundation to provide extensive commercial real estate solutions to tenants, owners, and investors. Headquartered in Dallas, with 29 offices in the U.S., SRS has grown into one of the industry’s most influential and respected leaders. Our commitment to excellence is strengthened by our Guarantee of Value and our success is measured in the achievement of our clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.