Jacksonville-based NAI Hallmark announced Aug. 13 that the former Acosta headquarters at 6600 Corporate Center Parkway in Southpoint sold Aug. 8 for $10.55 million.
NAI Hallmark executives Co-CEO Keith Goldfaden, Senior Vice President Daniel Burkhardt and Investment Sales Analyst Alex Caliel represented the seller, W.P. Carey Inc.
The real estate company said 3M Associates LLC bought the property, a three-story, Class A office building totaling 88,062 square feet on 6.89 acres. It was built in 2001.
The buyer is based in Jacksonville.
The building is within the Southpoint Business Park at northeast Butler Boulevard and Interstate 95.
“This sale reflects the continued positive momentum in the Jacksonville office investment market,” Burkhardt said in a news release.
“Office sale volume has increased 34% year-over-year through the second quarter, and we anticipate this trend will continue in the foreseeable future as investors see real long-term value at current price levels.”
The deed was not recorded with the Duval County Clerk of Courts as of 3:20 p.m. Aug. 13.
NAI Hallmark will manage the property. The long-term plan appears to be conversion to a school.
The announcement said the transaction “showcased a creative reuse of the property, requiring a successful rezoning with the local municipality to permit private or charter school operations.”
The release said the sale “is a testament to the demand for high quality, well-located office assets within the Jacksonville MSA,” referring to the metropolitan statistical area of Baker, Clay, Duval, Nassau and St. Johns counties.
NAI Hallmark reports it is Jacksonville’s largest locally owned commercial real estate brokerage and property management firm.
Jacksonville-based Acosta Group, which was leasing the space, relocated this spring.
A decade ago, corporate leaders at Acosta sold the Southpoint building.
In 2015, Mil-Jax Partners Ltd., led by Charthill LLC, sold the property to New York City-based W.P. Carey for $15.79 million
Charthill was led by Acosta leaders Gary Chartrand and Robert Hill. Both served as CEO and in other positions.
Acosta Group, a 98-year-old global marketing, retailing and brand placement company, relocated its headquarters 6 miles east to Southside Quarter.
Acosta Group, which includes Acosta Inc. as part of its sales and marketing agency collective, moved into the former McKesson building at 6651 Gate Parkway at southwest Butler Boulevard and Interstate 295.
Acosta Group provides services that connect consumer packaged goods, or CPG, companies with retailers to put products in front of shoppers.
The company is subleasing 60,204 square feet of space on the first and second floors of the four-story, 125,532-square-foot building that was developed in 2019 for medical and surgical supplies company McKesson Corp.
Acosta Group has put its name on that building.