Capital Square 1031 has acquired a Jacksonville, Florida-based office property. No financial terms were disclosed. Matt Bear, founder and CEO of Bear Real Estate Advisors, represented Capital Square 1031 on the deal.
JACKSONVILLE, Fla., June 13, 2018 /PRNewswire/ — Bear Real Estate Advisors, a real estate investment services firm, announced today that Matt Bear, founder and chief executive officer, represented Capital Square 1031, LLC in its acquisition of 14701 Philips Highway, a 45,000-square-foot Class A office building in Jacksonville, Florida.
“This property’s new construction, long-term absolute net lease, excellent location and demand for office space in the local area make it an attractive investment property,” said Bear. “The property’s tenant, Dream Finders Homes, has been recognized with multiple local awards for their success. The company is expected to continue its pattern of growth, which bodes well for this investment property.”
Situated on 3.1 acres of land, 14701 Philips Highway is a three-story office building that is 100 percent leased to Dream Finders Homes, one of the leading private homebuilders in the country. The property was constructed as a build-for-suit for the tenant and was completed in February 2018. Dream Finders Homes uses the property as its corporate headquarters, as well as its design center and closing office.
“This is another phenomenal asset that Matt Bear has sourced for Capital Square,” said Louis Rogers, founder and chief executive officer of Capital Square 1031. “Matt and his team at Bear Real Estate Advisors have demonstrated their ability to find exceptional assets along the lines of the Tampa Pharma building and, now, Dream Finders Homes building. We couldn’t be more pleased.”
Capital Square 1031 is a national real estate investment and management company that sponsors real estate exchange programs that qualify for tax deferral under Section 1031 of the Internal Revenue Code.
About Bear Real Estate Advisors
Bear Real Estate Advisors, founded in 2018 and headquartered in Las Vegas, is a boutique real estate investment services firm that caters to investors looking for personalized service and real world, battle-tested acquisition and disposition advice. The firm focuses on Section 1031 exchange buyer representation, national single-tenant investment sales and acquisitions, net lease investments, joint venture advisory, capital structure advisory, build-to-suit developments, debt/equity, specialized search and family office/professional investor buyside representation. For more information, go to www.bear-advisors.com.