Rosemont buys The Concourse office park for $31.75M
Rosemont Concourse Operating LLC bought The Concourse office park in Southside on Thursday for $31.75 million.
The three four-story buildings total more than 305,000 square feet of space on almost 20 acres at 5200, 5210, 5220 Belfort Road.
They were developed in 1989, 1999 and 2001, property records show. JPMorgan Chase issued a $22.2 million mortgage to Rosemont on Thursday for the properties Rosemont Realty LLC is based in Santa Fe, N.M., and already owns Butler Pointe and Westland One in Jacksonville.Rosemont bought the Concourse properties from three
Jacksonville Concourse limited liability companies.
Duval County property records list the structures as owned by Hallmark Partners Inc. for Northwestern Mutual Life Insurance.
Hallmark Partners principal Alex Coley said Friday that Hallmark sold the property previously to Northwestern Mutual and worked with Rosemont Realty in its acquisition.
He said Hallmark has remained involved at the Concourse offices as the leasing management company.
“The great news for Jacksonville is we are attracting the attention of big international investment firms like Rosemont,” he said. “We are thrilled that a company of their stature is
doubling down on their investment in Jacksonville,” he said.
The Concourse is 93 percent leased. Major tenants include Healogics and St. John & Partners and Meridian Technologies.
Rosemont Realty said on the rosemontrealty.com site that it has about 16 million square feet in more than 165 office buildings in 25 states across the United States, valued at more than $1.5 billion. Last year, Rosemont Realty acquired more than 2.5 million square feet of Class A and Class B office space valued at about $250 million.
Founded in 1991, Rosemont Realty has eight regional offices in Albuquerque, Atlanta, Dallas, Denver, Houston, New York, San Antonio and Washington D.C.