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Jax Daily Record Monday, Sep. 23, 201904:33 PM EST

Hines sells McKesson building for $42.3 million

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Real Capital Solutions of Colorado bought the new structure in Southside Quarter.

The Hines real estate development company sold the McKesson Corp. headquarters it built in Southside Quarter for almost $42.3 million.

Hines sold the four-story, 122,880-square-foot building on 7.73 acres at 6651 Gate Parkway to Real Capital Solutions of Colorado. Hines started construction on the structure last year for completion this year.

The site is at southwest Butler Boulevard and Interstate 295.

Bank of America financed the Real Capital Solutions mortgage at almost $32 million.

Hines sold the property through SSQ Office 1 Ltd. Real Capital Solutions bought it through RCS – Southside Quarter LLC. The deed and mortgage were recorded Monday with the Duval County Clerk of Courts.

McKesson Corp. said in January 2018 it agreed to anchor the building, moving from the Southpoint area. Houston-based Hines said it would lease the structure to McKesson’s Medical-Surgical business. 

City Council approved a $700,000 Recapture Enhanced Value grant that calls for McKesson to retain 428 jobs and create at least 10 more at an average salary of $45,562.

Construction must be completed by year-end. 

The office building is the first of two planned at Southside Quarter.

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