NAI Hallmark, the largest locally-owned, full-service commercial real estate brokerage firm in Jacksonville, has announced the sale of Renaissance at Strawberry Creek for $23,358,000. The 195-unit multifamily property is located at 7557 Arlington Expressway in Jacksonville. Senior Vice President John Rutherford and Vice President Luke McCann brokered the transaction on behalf of The Focus Group, the Seller and Huber Equity Group, the buyer.
“NAI Hallmark is pleased to have facilitated the sale of Renaissance at Strawberry Creek,” said Rutherford. “This sale underscores the growing opportunities we’re seeing in the market for pre-1980s, value-add investments. As investors anticipate strong rent upside on the heels of shrinking supply over the next 12 months, we expect to see this asset class outperform.”
The property was developed in 1969 and saw a significant renovation in 2023-24. It consists of 195 residential units ranging from one to three bedrooms, housed in 14 three-story buildings and a clubhouse. Situated on 11.06 acres, Renaissance at Strawberry Creek is located in the Arlington submarket along the Arlington Expressway, just minutes from downtown Jacksonville, Jacksonville University and College Park.
For more information regarding the sale of Renaissance at Strawberry Creek or any questions relating to multifamily investment assets, contact Rutherford at jr@naihallmark.com.
