JACKSONVILLE, FL-Aventine at Town Center is on the market. The 320-unit, garden-style community could turn heads with its strategic location in the heart of the office and retail corridor in the Jacksonville’s Town Center market.
Archon Group, L.P. hired Jones Lang LaSalle’s Capital Markets group to market the asset. JLL managing directors Jubeen Vaghefi, Jeff Morris and Denny St. Romain, along with vice president Steve Echelson, are leading the charge.
“Aventine at Town Center is located within just minutes of several corporate headquarters, as well as the Mayo Clinic Hospital and the University of North Florida,” Vaghefi tells GlobeSt.com. “Its stellar location, along with the ability to significantly add value through amenity upgrades, will make this extremely appealing to investors.”
Aventine at Town Center was built in 1997 and is located at 10135 Gate Parkway North. The 413,440-square-foot property offers a fitness center, resort-style pool, sand volleyball, tennis court, community center, business center, WiFi and gated entrance. It is currently 94% occupied.
Vaghefi notes that the Jacksonville metro ranks in the top 15 of the 50 largest U.S. metros in terms of annual population and employment percentage gains though 2015. That, he says, translates into significantly improving multifamily fundamentals that bodes well for investors looking at limited opportunities in this market.