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TPG Real Estate buys office property in Jacksonville, Fla.
Transactions - JANUARY 21, 2020

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TPG Real Estate buys office property in Jacksonville, Fla.

by Larry Gray

San Francisco–based TPG Real Estate has acquired a 374,123-square-foot, class A office campus in Jacksonville, Fla., for $107 million. The seller was Van Trust Real Estate, which developed the property.

The acquisition comprises Town Center One, a five-story, 155,423-square-foot building, and Town Center Two, a six-story, 218,700-square-foot building. The campus sits on 25 acres in the Deerwood Park area of the city.

In December, TPG Real Estate acquired two other Jacksonville office properties. The firm paid $37.9 million for Butler Plaza, a three-building property totaling 262,000 square feet on 16.9 acres, and it also bought a 156,000-square-foot building at 5201 Gate Parkway for $27.6 million.

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