from staff
The Capital Markets Group of Cushman & Wakefield of Florida’s Jacksonville office announced the sale of the Baywood Center suburban office buildings for $6.8 million.
Cushman & Wakefield reported that the buyer is David E. Gonzales Corp., a local private capital investor, and the seller was KBS Realty Advisors, a real estate investment trust based in Boston.
The sale, which was completed Nov. 23, represents the largest office building sale in the Jacksonville metropolitan area during 2010, said Cushman & Wakefield.
Baywood Center consists of one six-story and two two-story suburban office buildings, totaling 162,864 square feet, at 9424-9428-9432 Baymeadows Road in the Butler-Baymeadows suburban office submarket.
Developed in 1985, Baywood Center was 78 percent leased at the time of the sale. The building is anchored by CH2M HILL and Golder & Associates.
Karl Johnston, senior director of Cushman & Wakefield’s Capital Markets Group, represented the seller in the sale. The buyer represented itself in the transaction.