JACKSONVILLE, FLA. — Lingerfelt CommonWealth Partners LLC has sold Riverplace Tower, a 441,000-square-foot office tower located at 1301 Riverplace Blvd. in downtown Jacksonville. The undisclosed buyer purchased the 28-story tower, which is situated along the St. Johns River, for $53.4 million.
The new owner has retained Richmond, Va.-based Lingerfelt CommonWealth to operate the asset, which the company purchased in 2014 for $29 million.
Ameris Bank has signage on the office tower and occupies the entire 26th floor. The bank also operates a branch in the lobby.
Ameris Bank has signage on Riverplace Tower and occupies the entire 26th floor. The bank also operates a branch in the lobby. (Photo courtesy of Ameris Bank)
Commonwealth Commercial Partners, Lingerfelt CommonWealth’s property management affiliate, will handle day-to-day asset and property management responsibilities at Riverplace Tower.
JLL will continue to handle the leasing and marketing of Riverplace Tower on behalf of the new owner.
Lingerfelt CommonWealth Partners is a full-service real estate investment management firm with additional offices in Nashville, Jacksonville, Tampa, Charlotte, Raleigh, Greensboro and Hampton Roads.
Together with its predecessors in the private sector and public REIT sector, its partners have built, acquired and managed nearly 20 million square feet of commercial real estate valued at approximately $2 billion across the Mid-Atlantic and Southeast.
In addition to Riverplace Tower, Lingerfelt CommonWealth recently sold the Bank of America Plaza, a 435,523-square-foot office property in downtown Nashville, for $74 million.
The company has also recently purchased The Stein Mart Building in downtown Jacksonville and Towne Place at Greenbrier, a lifestyle retail center in Hampton Roads.
— John Nelson