Jacksonville Office Park Changes Hands

Texas-based Woodside Capital Partners acquired Greystone at Town Center, a 212,240-square-foot office park in Jacksonville, Fla., for $19.2 million. The asset was last owned by Taurus Investment Holdings, according to CommercialEdge data. Cushman & Wakefield brokered the transaction.

Completed in 1999, the park comprises five single-story buildings with floorplates ranging between 34,000 and 50,000 square feet, along with 850 parking spaces. Tenants at the property include Paycor, Next Science and DJ & Lindsey Real Estate, CommercialEdge information shows.

The buildings previously traded in 2006 for $25 million, according to the same source. In 2018 the asset became subject to a $20 million CMBS loan from Wilmington Trust, originated by JPMorgan Chase. The note carried a fixed interest rate of 4.86 percent.

Located at 10550 Deerwood Park Blvd., Greystone at Town Center is between interstates 295 and 95, and roughly 12 miles from downtown Jacksonville. It is also within walking distance of the Markets at Town Center shopping mall, as well as from the 1.6 million-square-foot St Johns Town Center lifestyle center.

Cushman & Wakefield Senior Directors Karl Johnston and Traci Jenks represented the seller in the transactions.

The buyer, Woodside Capital Partners, has been actively investing in office assets throughout the U.S. At the beginning of 2024, the firm entered the state of Arizona, paying $9.3 million for Talavi Corporate Center, a 153,332-square-foot office and medical office property. Including Greystone at Town Center, the company now operates a portfolio of 35 office properties totaling more than 3.7 million square feet.