4/8/2008

Grubb & Ellis purchases Jacksonville Medical Plaza

by
Grubb & Ellis Realty Investors, LLC, on behalf of tenant-in-common investors, has purchased the two-building Jacksonville Medical Plaza in Jacksonville, Fla., for an undisclosed price.

The buildings are located adjacent to Memorial Hospital Jacksonville at 3599 University Blvd. South. The two buildings were built in 1974 and renovated in 1995. They contain a combined 132,000 square feet on 11 acres and are currently 97 percent leased to multiple tenants including Memorial Hospital Jacksonville and Brooks Rehabilitation Hospital.

Grubb & Ellis Realty Investors is the real estate investment and asset management subsidiary of Grubb & Ellis. The company, formerly known as Triple Net Properties, has made several acquisitions lately including two Silver Spring, Md., office buildings and a Home Depot property in Austell, Ga.

Address: 3599 University Blvd. South, Jacksonville, Fla.

Size: 132,000 square feet

Built: 1974

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Filed Under: Office

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