Capital Square 1031 Buys New Class A Office Building in Jacksonville, Florida
June 15, 2018
Capital Square 1031, a real estate investment and management firm specializing in Delaware statutory trust offerings, has purchased a newly constructed three-story office building located in Jacksonville, Florida that was built to suit for Dream Finders Homes, a private homebuilder. The purchase price was not disclosed.
Situated on more than three acres of land, the 45,000-square-foot Class A office building was completed in February 2018. The property will serve as Dream Finders’ corporate headquarters and will house its design center, title and closing department, and mortgage department in a single location.
“The property is in an ideal location within a growing area near numerous communities where Dream Finders Homes has properties under construction, said Louis Rogers, founder and chief executive officer of Capital Square 1031. “The building is leased on a long-term, absolute net basis, where the tenant is responsible for taxes, insurance and maintenance, and is located in a high-growth, income tax-free state.”
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