Perdue Office Interiors Acquired an Historic 20,000-Square-Foot Office Building at 5 West Forsyth Street for Nearly $2 Million
JACKSONVILLE, FL, June 16, 2016 — Cushman & Wakefield announced today that it has negotiated the acquisition of 5 West Forsyth Street, an historic 20,000-square-foot office building in downtown Jacksonville.
Senior Director Traci Jenks represented Perdue Office Interiors in its acquisition of the building for nearly $2 million ($100 per square foot). The seller, 5 W. Forsyth St., Inc., was represented by Petra Management’s Rich Trendel.
5 West Forsyth Street was built 100 years ago in 1916, the same year Perdue Office Interiors was founded. The two-story building currently houses Perdue’s showroom and CoWork Jax. Its location at the corner of Main Street and Forsyth provides excellent visibility in Jacksonville’s downtown core and convenient access to local amenities and major thoroughfares.
“Perdue Office Interiors is proud to be a part of downtown Jacksonville’s revitalization,” said Vince McCormack, Perdue President. “5 West Forsyth and Perdue have a long, storied history in this city. This was a great opportunity to secure a piece of that history while investing in the future of Jacksonville’s CBD.”
According to Jenks, Jacksonville remains a target market for office users and investors looking to capitalize on a favorable environment for acquisitions.
“As rental rates continue to grow, many users are weighing their options to lease or purchase,” added Jenks. “It’s a buyer’s market right now and, for some, a great opportunity to secure a great deal in Downtown Jacksonville.”
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.