Lingerfelt CommonWealth Sells Riverplace Tower in Downtown Jacksonville, Florida

Press Release | Nov 30, 2016

RICHMOND, VIRGINIA (Nov. 30, 2016) – Lingerfelt CommonWealth Partners, LLC today announced the disposition of Riverplace Tower at 1301 Riverplace Boulevard in downtown Jacksonville, Fla., totaling 441,000 square feet, for a gross sales price of $53.4 million.

Lingerfelt CommonWealth will continue to operate the asset for the new owner via the Company’s vertically integrated operating platform. Commonwealth Commercial Partners, the Company’s property management affiliate, will handle all aspects of the day-to-day asset and property management. Jones Lang LaSalle will continue to handle the leasing and marketing of Riverplace Tower.

CONTACTS:

Kenneth S. Strickler
Managing Director Acquisitions & Asset Management
Lingerfelt Commonwealth Partners
804-433-1809
kstrickler@lingerfeltcommonwealth.com

J. Ryan Lingerfelt
President & Chief Investment Officer
Lingerfelt Commonwealth Partners
804-270-0015
rlingerfelt@lingerfeltcommonwealth.com

ABOUT LINGERFELT COMMONWEALTH PARTNERS

Lingerfelt CommonWealth Partners, headquartered in Richmond, Va., is a vertically integrated, full-service real estate investment management firm with additional offices in Nashville, Tenn.; Jacksonville and Tampa, Fla., Charlotte, Raleigh and Greesnboro, N.C.; and Hampton Roads, Va. 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. Learn more at www.lingerfeltcommonwealth.com