Jacksonville Multifamily Market Report 2nd Quarter 2022 - NAI Hallmark
Jacksonville Multifamily Market Report 2nd Quarter 2022 - NAI Hallmark
βThe Jacksonville MSA continues to outperform the majority of markets nationwide with its 20% rent growth, affordable 18% rent-to-income ratio, and 96% market-wide occupancy. Additionally, with recent job growth data exceeding expectations at 37,000+ new jobs and the greatest percentage of that growth being concentrated in the professional and business services sector, weβre forecasting continued growth in all facets of the multifamily investment market in North Florida.β
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βThe Jacksonville MSA continues to outperform the majority of markets nationwide with its 20% rent growth, affordable 18% rent-to-income ratio, and 96% market-wide occupancy. Additionally, with recent job growth data exceeding expectations at 37,000+ new jobs and the greatest percentage of that growth being concentrated in the professional and business services sector, weβre forecasting continued growth in all facets of the multifamily investment market in North Florida.β Senior Vice Presi...
βThe Jacksonville MSA continues to outperform the majority of markets nationwide with its 20% rent growth, affordable 18% rent-to-income ratio, and 96% market-wide occupancy. Additionally, with recent job growth data exceeding expectations at 37,000+ new jobs and the greatest percentage of that growth being concentrated in the professional and business services sector, weβre forecasting continued growth in all facets of the multifamily investment market in North Florida.β Senior Vice Presi...
During Q1β22, the overall price averaged $171K+ per unit, in-line with the Q4β21 average, while cap rates continue to compress another 10 basis points. As the MSA continues its historic rent growth, investor demand remains high, even with the increase in interest rates. Effective rents, now averaging $1.48 per SF for the Jacksonville MSA, increased 23.7% year-over-year during Q1β22, while vacancy levels remained below 3.0% during the same period. As rental rates continue their historic ris...
During Q1β22, the overall price averaged $171K+ per unit, in-line with the Q4β21 average, while cap rates continue to compress another 10 basis points. As the MSA continues its historic rent growth, investor demand remains high, even with the increase in interest rates. Effective rents, now averaging $1.48 per SF for the Jacksonville MSA, increased 23.7% year-over-year during Q1β22, while vacancy levels remained below 3.0% during the same period. As rental rates continue their historic ris...
During Q4'21, the overall price averaged $171K per unit, a 17% increase year-over-year, while cap rates continue to compress another basis point. As the MSA remains one of the top rent growth markets in the country, demand from investors continues to intensify.Β Effective rents, now averaging $1,421 for the Jacksonville MSA, increased 22.8% [...]
The post Jacksonville Multifamily Market Report 4th Quarter 2021 appeared first on NAI Hallmark.
During Q4'21, the overall price averaged $171K per unit, a 17% increase year-over-year, while cap rates continue to compress another basis point. As the MSA remains one of the top rent growth markets in the country, demand from investors continues to intensify.Β Effective rents, now averaging $1,421 for the Jacksonville MSA, increased 22.8% [...]
The post Jacksonville Multifamily Market Report 4th Quarter 2021 appeared first on NAI Hallmark.
JACKSONVILLE, FL., β May 31st, 2022 β NAI Hallmark, Β leasing agent for EastGroup Properties Inc. (NYSE:EGP) representing their industrial portfolio for the Southside of Jacksonville, Florida, announced today that it has completed a long-term lease that will bring Franklin Southern Manufacturing to Deerwood Distribution Center at 8500 Baycenter Road. The Jacksonville-headquartered steel and [...]
The post NAI Hallmark completes a 75,664 SF Industrial Lease in Southside Jacksonville appeared ...
JACKSONVILLE, FL., β May 31st, 2022 β NAI Hallmark, Β leasing agent for EastGroup Properties Inc. (NYSE:EGP) representing their industrial portfolio for the Southside of Jacksonville, Florida, announced today that it has completed a long-term lease that will bring Franklin Southern Manufacturing to Deerwood Distribution Center at 8500 Baycenter Road. The Jacksonville-headquartered steel and [...]
The post NAI Hallmark completes a 75,664 SF Industrial Lease in Southside Jacksonville appeared ...
JACKSONVILLE, FL., β July 25, 2022 β NAI Hallmark, a leading commercial real estate brokerage and property management firm in Jacksonville, announces the sale of Millennium Business Center located at 11744 Beach Boulevard, Jacksonville, FL. NAI Hallmark Managing Partner Keith Goldfaden and Senior Vice President Daniel Burkhardt, SIOR, CCIM, MSRE, represented the seller, [...]
The post NAI Hallmark Brokers $7,150,000 Sale of Millennium Business Center in Jacksonville, FL appeared first on NAI...
JACKSONVILLE, FL., β July 25, 2022 β NAI Hallmark, a leading commercial real estate brokerage and property management firm in Jacksonville, announces the sale of Millennium Business Center located at 11744 Beach Boulevard, Jacksonville, FL. NAI Hallmark Managing Partner Keith Goldfaden and Senior Vice President Daniel Burkhardt, SIOR, CCIM, MSRE, represented the seller, [...]
The post NAI Hallmark Brokers $7,150,000 Sale of Millennium Business Center in Jacksonville, FL appeared first on NAI...
JACKSONVILLE, FL., β August 1, 2022 β NAI Hallmark, leasing agent for EastGroup Properties Inc. (NYSE:EGP) representing their industrial portfolio for the Southside of Jacksonville, Florida, announced today that it has completed a lease that will bring Cenntro Auto to Beach Boulevard Distribution Center at 11840 Beach Boulevard. The 46,000-square-foot multi-tenant showroom warehouse [...]
The post NAI Hallmark Secures Lease with Cenntro Auto for 12,000 SF Showroom in Jacksonville, FL appeare...
JACKSONVILLE, FL., β August 1, 2022 β NAI Hallmark, leasing agent for EastGroup Properties Inc. (NYSE:EGP) representing their industrial portfolio for the Southside of Jacksonville, Florida, announced today that it has completed a lease that will bring Cenntro Auto to Beach Boulevard Distribution Center at 11840 Beach Boulevard. The 46,000-square-foot multi-tenant showroom warehouse [...]
The post NAI Hallmark Secures Lease with Cenntro Auto for 12,000 SF Showroom in Jacksonville, FL appeare...
JACKSONVILLE, FL., β May 12th, 2022 β NAI Hallmark announces the sale of the Eastwood Oaks Apartments for $13,500,000. The multifamily property is located at 37177 Cody Circle in Hilliard, Florida. Senior Vice President John Rutherford and Vice President Luke McCann brokered the transaction on behalf of US Investing Group LLC, the Seller, [...]
The post NAI Hallmark Brokers Sale of Eastwood Oaks Apartments appeared first on NAI Hallmark.
JACKSONVILLE, FL., β May 12th, 2022 β NAI Hallmark announces the sale of the Eastwood Oaks Apartments for $13,500,000. The multifamily property is located at 37177 Cody Circle in Hilliard, Florida. Senior Vice President John Rutherford and Vice President Luke McCann brokered the transaction on behalf of US Investing Group LLC, the Seller, [...]
The post NAI Hallmark Brokers Sale of Eastwood Oaks Apartments appeared first on NAI Hallmark.
JACKSONVILLE, FL., β June 24th, 2022 β NAI Hallmark announces the off-market portfolio sale of the Landings at Southpoint & The Landings at Parkview. The multifamily properties are located at 3530 Victoria Park Road and 6226 Barnes Road South in Jacksonville, Florida. The properties were acquired by a Los Angeles based joint venture [...]
The post NAI Hallmark Brokers Sale of the Landings at Southpoint & Parkview appeared first on NAI Hallmark.
JACKSONVILLE, FL., β June 24th, 2022 β NAI Hallmark announces the off-market portfolio sale of the Landings at Southpoint & The Landings at Parkview. The multifamily properties are located at 3530 Victoria Park Road and 6226 Barnes Road South in Jacksonville, Florida. The properties were acquired by a Los Angeles based joint venture [...]
The post NAI Hallmark Brokers Sale of the Landings at Southpoint & Parkview appeared first on NAI Hallmark.
JACKSONVILLE, FL., β April 27, 2022 β NAI Hallmark announces the sale of the Tree Hill Multifamily Portfolio for $8,500,000. The properties are located at 1135 Bert Road and 7210-7220 Parker School Road in Jacksonville, Florida. Vice President Luke McCann and Senior Vice President John Rutherford brokered the transaction on behalf of TASS [...]
The post NAI Hallmark Brokers Sale of Tree Hill Multifamily Portfolio appeared first on NAI Hallmark.
JACKSONVILLE, FL., β April 27, 2022 β NAI Hallmark announces the sale of the Tree Hill Multifamily Portfolio for $8,500,000. The properties are located at 1135 Bert Road and 7210-7220 Parker School Road in Jacksonville, Florida. Vice President Luke McCann and Senior Vice President John Rutherford brokered the transaction on behalf of TASS [...]
The post NAI Hallmark Brokers Sale of Tree Hill Multifamily Portfolio appeared first on NAI Hallmark.
JACKSONVILLE, FL β October 12, 2022 β NAI Hallmark, a leading commercial real estate brokerage and property management firm in Jacksonville, announces the sale of 4010 Deerpark Boulevard in Elkton, Florida (Jacksonville MSA) for $5,100,000. NAI Hallmark Managing Partner, Keith Goldfaden and Senior Vice President of Investment Sales, Daniel Burkhardt brokered the transaction [...]
The post NAI Hallmark Brokers $5,100,000 Sale of Q-PAC Corporate Headquarters appeared first on NAI Hallmark.
JACKSONVILLE, FL β October 12, 2022 β NAI Hallmark, a leading commercial real estate brokerage and property management firm in Jacksonville, announces the sale of 4010 Deerpark Boulevard in Elkton, Florida (Jacksonville MSA) for $5,100,000. NAI Hallmark Managing Partner, Keith Goldfaden and Senior Vice President of Investment Sales, Daniel Burkhardt brokered the transaction [...]
The post NAI Hallmark Brokers $5,100,000 Sale of Q-PAC Corporate Headquarters appeared first on NAI Hallmark.