12/20/2007

Triple Net acquires Jacksonville office park

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Triple Net Properties has acquired the Exchange South Office Park in Jacksonville, Fla., on behalf of tenant-in-common investors from G&I V Exchange South, LLC.

Michael Harrell of CB Richard Ellis represented the seller in the transaction. Financing for the acquisition was provided by Lehman Brothers.

Exchange South, built between 1990 and 1996, is a five-building office park located along Philips Highway in Jacksonville's Southside market. It contains 194,400 square feet and is currently 95 percent leased to tenants such as Florida Oncology Associates, P.L., Columbia Analytical Services and Unique Customer Concept, Inc.

Harrell is a senior VP with CBRE's Jacksonville office. He joined the company in 1985 as an office building specialist. He was the NAIOP Broker of the Year in 1991 and 1997 and CBRE's Top Producer in Jacksonville from 1985 to 2003.

Address: Philips Highway, Jacksonville, Fla.

Size: 194,400 square feet

Built: 1990-1996

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Filed Under: Office

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