TriGate Capital Completes Sale of the Belfort Office Park

DALLAS, TEXAS - TriGate Property Partners III, LP, sold the Belfort office park in Jacksonville, Florida on September 2^nd, 2021.  The project was sold off-market to a buyer represented by Jones Lang LaSalle.  The park consists of two, four story office buildings, Southpoint and Enterprise Park, containing 223,405 square feet.  The buildings are prominently located at the intersection of I-95 and J Turner Butler highway and were 50% occupied.   TriGate, in partnership with LRC Properties, was able to achieve attractive pricing, despite the below market occupancy, due to the successful renovation of the vacant Southpoint building that led to a pending full-floor lease to a national credit tenant.