February 2, 2024 – Jarett Zackman and Michael Talbert of Horvath & Tremblay have successfully completed the sale of Hwy 55 in Jacksonville, Florida. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $2,731,904.
Hwy 55 is located at 1027 Danmac Lane in Jacksonville, Florida. The new construction stand-alone building consists of 2,152 square feet and sits on 1.12-acres of land. Hwy 55 has 19+ years remaining on their Absolute NNN Lease with four (4), 5-Year renewal options. The lease features attractive 10% rent increases every five years throughout both the current term and at the start of each of the renewal option periods. Hwy 55 is strategically positioned along Commonwealth Avenue, the area’s primary commercial corridor. The Property is 0.2-miles from Interstate 295, and enjoys convenient access to US Routes 90, 23, and 1. The Property is surrounded by national retailers driving traffic to the area and large industrial and distribution complexes that provide a captive employment market. Hwy 55 is located 8 miles west of Downtown Jacksonville.
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.