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| SOUTHSIDE -- A South Florida commercial developer
is venturing north to Jacksonville to build a
$45 million office condominium campus.
Weston-based Global Group Investment Inc. plans
to break ground in August on Gateway Professional
Campus, at Gate Parkway and Burnt Mill Road.
The 15.5-acre site will include nearly 180,000
square feet of space divided into eight, two-story
buildings that will start at $235 per square foot for
first-floor units and $240 per square foot for second-
floor units.
Commercial Jacksonville, a Cushman & Wakefield
alliance company, represented Global Group
Investment in its acquisition of the land and will sell
the units, which range from 1,200 square feet to
23,732 square feet.
"This project has perfect timing," said Commercial
Jacksonville Associate Director Chris Gremley.
"Jacksonville has a 12 percent vacancy rate right
now, rental rates are increasing, and with interest
rates reasonably low, there's probably not going to
be a better time to buy than now."
Gateway Professional Campus is one of six projects
Global Group Investment is developing. The others
are in Boca Raton, Wellington, Sarasota, Tampa Bay
and Windermere. Since it was established in 1997,
Global |
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| Group Investment has developed nine commercial
office condo projects that are marketed toward medical toward medical professions, attorneys and other
office professionals, and one retail project, with
funding from private foreign and domestic
investors.
Gremley approached the developer with the idea of
building in Jacksonville. It took more than a year to
choose a site and prepare it for the project.
Commercial Jacksonville CEO Chuck White said it is
a centralized location. "It's got everything: easy
access to the interstate, and it's bordered by
upscale residences for people who want to live and
work in Jacksonville."
Jacksonville-based England-Thims & Miller Inc. will
engineer the project, Hunton Brady Architects PA in
Orlando is the architect and Rieker Duley
Construction is the contractor. The project is
expected to be done in May 2008.
Global Group Investments Managing Partner Chip
Dinneen said the company is considering the possibility
of future developments in Northeast Florida.
"We'll certainly do multiple locations, as long as the
market demands it."
cconte@bizjournals.com |
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The benefits of owning your business space are
proving to be a major draw for purchasers at the
Professional Center at Lakewood Ranch.
The $28 million development offers 10 one and
two-story buildings totaling 125,608 s.f. in an 18-
acre lakeside setting. The high-exposure location
fronts Interstate 75 off University Parkway, adjacent
to Lakewood Ranch.
Phase 1 construction of the 4 one-story 8,000 s.f
buildings is now complete. Sales have soared to
90% of this phase. For the buyer needing space
immediately, 3,640 s.f. is still available.
“The bottom line is that it makes good financial
sense,” said Chip Dinneen, sales director, Global
Group Investment. “For starters there’s equity
build-up, annual appreciation on the property of at
least three percent, tax advantages and pride of
ownership. What differentiates us from our competitors
is quality construction and the look of the
campus.”
Construction is moving forward with the start of
Phase II, 2 two-story 16,000 s.f. buildings planned
for occupancy in the first quarter of 2008. Space
sizes range from 1,200 s.f. to 16,000 s.f. per building.
A new feature is the offering of fully-finished
suites in one of the buildings.
“It’s always a pleasure showing potential clients
the project,” said Lily Behrends of Interstate
Commercial Brokers, exclusive sales agents. “The general comments I am hearing is the project is
beautiful and very upscale. |
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The open courtyard
reminds them of Tuscany, and the private balcony is
definitely a great feature. The medical community
likes the Center’s close proximity to the Lakewood
Ranch medical center. Another plus is its parking.
Since the Center consists of stand alone buildings,
ample parking is provided for patients/clients to
park in close proximity to their destination.”
In the works for business looking to lease, there are
options available
“For businesses not ready to purchase we have
lease/purchase and lease packages to help get
them into quality space,” said Chip Dinneen.
“Interest rates are certainly a big part of the buying
equation,” said David Ortiz, president and CEO of
GGI. “Add to this the great location, combined with
the monetary advantages of ownership. How many
investments can you use and benefit from every
day?”
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“The 10 Best Markets for Small Businesses published by
BizJournals.com ranks cities across the nation. Four out of
the ten are in Florida, the first, second and fifth places are all
selected locations for Global’s projects. This demonstrates
our commitment to selecting perfect areas for our office
campus developments.”
“We at Global are very excited about our two latest developments
in the Greater Tampa and Jacksonville areas. Our
recent acquisition of a prime 14-acre site adjacent to the
Florida Turnpike at Wesmere in the greater Orlando area., is
the planned site for Lake Butler Professional Center, an 8
two-story office buildings project.” |
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The 10 Best Markets for Small Businesses published by BizJournals.com ranks cities across the nation. Four out
of the ten are in Florida, the first, second and fifth places are all selected locations for Global’s projects. |
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Small-business stats (rank in study)
Number of small businesses: 54,539 (25)
Change in small businesses (2000-05): 25.1% (2)
Small businesses per 100,000 residents: 2,821 (9)
Small-business vitality score: 15.40 points
Orlando is the clear choice for first place. It's the only market that
makes the national top 10 in three key categories: small businesses per
100,000 residents, growth in small businesses since 2000, and five-year
population growth. |
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Small-business stats
(rank in study)
Number of small businesses: 20,644 (56)
Change in small businesses (2000-05): 24.7% (3)
Small businesses per 100,000 residents: 3,067 (3)
Small-business vitality score: 11.92 points
Sarasota-Bradenton may be the second-smallest metro in this study, but
it ranks as the second-biggest success story. Only four markets have at
least 3,000 small businesses per 100,000 residents, and this is one of
them. The number of small businesses has grown 25 percent in just five
years. |
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Small-business stats
(rank in study)
Number of small businesses: 171,375 (4)
Change in small businesses (2000-05): 14.0% (9)
Small businesses per 100,000 residents: 3,161 (1)
Small-business vitality score: 10.42 points
Miami was No. 1 in the previous version of these rankings 18 months
ago. It still boasts the nation's most impressive concentration of small
businesses -- 3,161 per 100,000 residents. |
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Small-business stats
(rank in study)
Number of small businesses: 33,129 (40)
Change in small businesses (2000-05): 19.1% (5)
Small businesses per 100,000 residents: 2,654 (16)
Small-business vitality score: 9.68 points
Jacksonville is the fourth Florida market in the top five. Its growth rates
are impressive -- fifth (of 75 metros) for small businesses, 15th for population.
Only eight markets are expanding their private-sector payrolls
more rapidly.
Note: a small business is defined as having 99 or fewer employees
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This unique development continues trend for business professionals
to own rather than lease their office space |
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JACKSONVILLE, FLORIDA – July 2007 –
Commercial Jacksonville commercial real estate
brokerage, Cushman and Wakefield’s Alliance
Partner in NE Florida, has been awarded the brokership
contract for a new Class A office condominium
development, Gateway Professional Campus.
Chuck White, CEO Commercial Jacksonville and
Associate Director Chris Gremley were chosen by
South Florida-based developer Global Group
Investment, Inc., for their reputation and expertise
in the commercial real estate market. Commercial
Jacksonville has represented and brokered some of
the largest tenants and transactions in the
Jacksonville market.
The hot trend in commercial real estate, offering
office condos for purchase rather than lease continues
to spread across Florida, fuelled by relatively
low interest rates, and rising lease rates This unique
$45 million development of “Class A” office space
located on Gate Parkway and S.R. 9A, in the heart
of the Jacksonville suburban office corridor, is suited
to business professional, attorneys, accountants,
medical professionals, and other service oriented
businesses. Global Group Investment, which has
ten projects totaling more than 1.5 million s.f. and
more than $312 million in value throughout the
state of Florida, carefully handpicked Jacksonville as
the perfect location for its latest project.
“We are already receiving strong interest from the
area business and medical professionals. It’s what
Jacksonville has been waiting for,” said Chris
Gremley. “This will be the first true Class A office
condo in Jacksonville. Businesses can purchase as
little as 1,200 s.f. up to an entire building depending
on their needs and projected future growth.”
Located in the center of Jacksonville, with easy
access from J. Turner Butler Blvd and State Road
9A, the Campus is minutes away from numerous
amenities, hotel, retail, restaurants and world class
golf courses. The campus will be constructed in
three phases with eight two-story office/medical
buildings on the 15.47-acre site. First occupancy is
projected for Summer 2008. It offers business |
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professionals,
attorneys, doctors and dentists a unique
opportunity to purchase rather than lease their
property, with low interest finance options and
fixed rates available
“Bottom line, it makes good fiscal sense for companies
and professionals to purchase right now” said
CEO Chuck White, who co-founded the firm in
2002 and was awarded for an unprecedented two
successive years Jacksonville’s NAIOP “Office
Broker of the Year” for 2003 and 2004.
“This is a ‘must have’ location. It’s got everything:
easy access to the interstate, it’s bordered by
upscale residences for people who want to live and
work in Jacksonville,” he added.
Gateway Professional Campus’s freestanding two
story buildings, positioned in a lushly landscaped
setting, are sold in whole or in part, as condominium
offices, with choices ranging from 1,200-
23,732 s.f. The total development is approximately
179,592 s.f In addition, the ample 5/1000 parking
ratio, is among the highest in Jacksonville.
“This project has perfect timing,” said Gremley.
“Jacksonville has a 12% vacancy rate right now,
rental rates are increasing, and with interest rates
reasonably low, there’s probably not going to be a
better time to buy than now. Banks are competing
to lend to qualified buyers.”
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| If you have problems viewing this message, copy and paste the link below into your web browser. |
| http://www.beaconsquareprofessionalcampus.com/newsletter/ggiusnewsletter-summer07.html |
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