May 20, 2024 – Bob Horvath, Todd Tremblay, Matt Nadler, Andy Prater, and Jessica Harris of Horvath & Tremblay have successfully completed the sale of the Mandarin Station in Jacksonville, Florida. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $6,100,000.
Mandarin Station is located at 11200 San Jose Boulevard in Jacksonville, Florida (the “Property”). Mandarin Station is a 9,257 square foot retail plaza on a 1.14-acre parcel that is 100% leased to a complimentary mix of three nationally or regionally recognized tenants. The center is leased to T-Mobile, Vitamin Shoppe, and Community First Credit Union, all of which have corporate leases. Each of the tenants have double net leases making it an attractive investment for the passive investor and protecting the in-place cash flow against rising costs of service and labor. Two of the tenants have attractive 10% scheduled rent increases in their primary lease terms, and all of the tenants have 10% increases at the start of each of their renewal option periods, providing a steady increase in income and an attractive hedge against inflation. Mandarin Station is positioned along San Jose Boulevard (FL Route 13), the area’s primary commercial and commuter corridor. The Property has outstanding visibility, frontage and access and is located across from the Riverplace Shopping Center and in between a Walmart Supercenter anchored plaza and a Publix anchored plaza. Mandarin Station is 0.6-miles from Interstate 295, which provides convenient access to Interstate 95, and US Route 1. The Property is surrounded by national retailers driving traffic to the area and densely populated residential neighborhoods providing a built-in customer base.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.