JACKSONVILLE, FL (July 11, 2023) – Franklin Street has arranged the sale of Northside, a 9.84-acre development site in Jacksonville, Florida, for $5.3 million, equating to $538,617 per acre.
Franklin Street’s Shaun Mayberry, Senior Director of Land Investment Sales, brokered the transaction on behalf of the seller, Florida-based Signature Land, Inc. The undisclosed buyer plans to develop a mixed-use project that may include self-storage, hotels and other retail property types.
“The growth in North Jacksonville has been tremendous given the expansion and dredging of the Jax Port nearby and the JAX International Airport new concourse bringing new commercial, residential and jobs to the immediate area,” said Mayberry. “Our land team has helped several landowners in this submarket including areas such as Alta Dr, N Main St., Max Leggett Parkway, among others.”
Located at 0 Faye Road, providing frontal view of Alta Drive, the development site is in a prime area that has seen a surge of new developments, including the recently built Ash Properties shopping center and newly constructed Publix near Yellowbluff and New Berlin.
About Franklin Street:
Founded in 2006 during one of the toughest real estate climates, Franklin Street focused on delivering value-added solutions to meet the evolving needs of clients. Through a collaborative philosophy of leveraging the resources, expertise and experience of each of its lines of business, Franklin Street has grown to include seven business divisions – Investment Sales, Tenant and Landlord Representation, Capital Advisory, Insurance, Property Management and Project Management. With $7 billion in transaction value across all major product types, Franklin Street offers unmatched value and optimal solutions for clients nationwide. Headquartered in Tampa, Fla., the firm has teams located in top markets throughout the country and works with owners and occupiers of commercial real estate nationwide. Learn more about Franklin Street at FranklinSt.com.