(Carl Cronan is editor of RealEstateFlorida.)
JACKSONVILLE, FL-Strong growth projections are making this citya good bet for commercial real estate investors seeking value inrental apartment properties, according to multifamily brokers. Atthe same time, the inventory of new and existing units in themetropolitan area appears to be increasing.
Two garden-style apartment complexes are being brought to markettotaling 560 units along Crossing Boulevard in the Orange Parksubmarket of Jacksonville. The class B properties, Mariners Wharfand Bridgewater at Wells Crossing, are expected to sell for $55million or just above $98,000 per unit, either combined orseparately, according to Jones Lang LaSalle Inc.
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