Somerset Properties is pleased to announce the disposition of its Jacksonville Light Industrial Portfolio, a collection of eight, single and multi-tenant light-industrial warehouse buildings located in the Southside and Westside submarkets of Jacksonville, FL. The disposition price of $47,800,000 ($125/SF) represents a significant value increase from the December 2020 purchase price of $28,200,000 ($74/SF). Somerset Properties completed its business plan of improving the functional & cosmetic appeal of the buildings and implementing a dynamic leasing plan to maximize the rental rates. The portfolio generated extremely strong investor interest and the Somerset Properties team executed an efficient disposition process. Somerset Properties has operated and repositioned nearly 15 million square feet in its history.
About us
Somerset Properties is a full service real estate investment and operating company with in-house expertise to implement acquisitions, development, property management, leasing, financing, and investment management. The ability to control all facets of property performance in-house enables Somerset Properties to maximize returns and mitigate risk while maintaining the highest standards for property conditions and tenant services. Since 1996 Somerset Properties has been Building Real Property Solutions for our investors and tenants.
- Website
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http://www.somprop.com
External link for Somerset Properties
- Industry
- Real Estate
- Company size
- 11-50 employees
- Headquarters
- Lower Gwynedd, PA
- Type
- Partnership
- Specialties
- Commercial Real Estate, Industrial Real Estate, Multi-Family Real Estate, Leasing, Property Management, Asset Management, Investment Sales, Land Planning & Property Consulting, Construction Services, and Accounting
Locations
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Primary
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768 N. Bethlehem Pike
Suite 203
Lower Gwynedd, PA 19002, US
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4050 Piedmont Pkwy
High Point, North Carolina 27265, US
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11414 West Park Place
Suite 104
Milwaukee, WI 53224, US
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302 Fellowship Road
Suite 130
Mount Laurel, NJ 08054, US