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Jax Daily Record Thursday, Oct. 2, 201412:00 PM EST

Quadrant office buildings sell for $24M


The Quadrant office buildings at Butler Boulevard and Interstate 95 changed hands Tuesday in a $24 million transaction.

KRG Quadrant LLC and Quadrant Partners LLC, both of Atlanta, sold the properties to Quadrant Jax Partners LLC of Coral Gables.

The properties include the Quadrant at Southpoint I and the Quadrant at Southpoint II. The total acreage is 19.3 acres.

The five properties identified in the deed comprise a four-story, 113,000-square-foot building at 4651 Salisbury Road built in 1985; a four-story, 113,000-square-foot structure at 4655 Salisbury Road built in 1987; and a parking lot, right of way and some retention/waste land.

The Jacksonville Property Appraiser’s Office shows the properties’ 2014 market value at $18.8.

Genworth Life Insurance Co. of Overland Park, Kan., issued a mortgage of $18 million to Quadrant Jax Partners.

KRG Quadrant LLC and Quadrant Partners are headed by manager Craig Kaufman of Atlanta. Kaufman is the founder of Atlanta-based Kaufman Realty Group.

Quadrant Jax Partners LLC is led by manager Richard Fownes of Coral Gables. The deed shows Quadrant Jax Partners LLC’s address is in Duxbury, Mass.

Fownes’ Coral Gables office also is the address for Cypress CC LLC, which owns the Cypress Business Center at 8301 Cypress Plaza Drive.

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