Top 10 Mistakes Made When Buying an Office Condominium

Buying a commercial condo can be a great move for a business, from the tax advantages, cost savings and predictability in expenses, it makes sense in many situations. Here are ten pitfalls to avoid when buying an office condominium space.

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AT&T Renews Lease In Bell South Bldg. in Jacksonville

AT&T Wireless renewed its lease at the BellSouth Building, located at 10375 Centurion Pkwy. in Jacksonville, FL.

The BellSouth Building is a 95,190-square-foot, Class A office complex in Jacksonville's Southside submarket. It was constructed in 1996 and resides on slightly more than six acres.

AT&T Wireless leases a total of 47,471 square feet on the third and fourth floors of the building. American Express Travel Related Services is also a tenant at the complex, leasing 22,641 square feet on the second floor of the building. AT&T Wireless originally leased the space in 2011.

Victor Hughes of Parkway Realty Services represented the landlord.

By Stephanie Kenny

October 15, 2013

JACKSONVILLE OFFICE MARKET REPORT 2009Q3

We're currently preparing our Q3 office market report for the Jacksonville MSA. As a benchmark we use class "B" office and standardize everything to a full service equivalent.

Our preliminary results show fully negotiated rents for the Jax MSA averaging $15.10/sf (see accompanying graph -- click on it to see a larger version). The Beaches / Ponte Vedra submarket has the highest average at $20.22/sf. Orange Park has the lowest at $13.62/sf.

Look for our complete office report that will be published in mid-September.