Lingerfelt CommonWealth buys Jacksonville building for $23.6 million
Richmond-based Lingerfelt CommonWealth Realty Partners LLC has acquired the Stein Mart Building in downtown Jacksonville, Fla., for $23.6 million.
Headquarters to retailer Stein Mart Inc., the 10-story, 196,649-square-foot office building has an adjacent six-story parking garage. It is currently nearly 96 percent occupied.
The building is located in Jacksonville’s Southbank area along the St. Johns River and the newly constructed Southbank Riverwalk.
In October 2014, Lingerfelt CommonWealth acquired Riverplace Tower at 1301 Riverplace Boulevard, across the street from the Stein Mart Building. Riverplace Tower is a 28-story, 441,142-square-foot building. It is 81 percent occupied.