The Avery at River City Marketplace in Jacksonville trades hands

JACKSONVILLE, Oct. 10, 2025 – JLL Capital Markets announced today that it has arranged the sale of The Avery at River City Marketplace, a 390-unit Class A+ multifamily community in Jacksonville's rapidly growing North Jacksonville/Airport submarket.

JLL represented the seller, a partnership consisting of Corner Lot Development Group and Palatine Capital Partners Management, LLC. Buyer was an affiliated entity of Tampa, FL - based DeBartolo Development, LLC.

Located at 14200 Duval Rd., The Avery features garden-style apartments. The property was sold as a new construction asset built in two phases delivered in 2022 and 2024 respectively. The community offers a comprehensive amenity package including a resort-style pool, fitness center with studio space, clubhouse with game area and coworking spaces.

The Avery is strategically positioned in North Jacksonville's exploding industrial and logistics hub, driven by the massive expansion of JAXPORT and Jacksonville International Airport. The submarket features multiple major employers including UF Health North, the recently opened North Jacksonville VA Hospital and proximity to the regionally dominant River City Marketplace retail center.

JLL Capital Market’s Investment Sales and Advisory team representing the seller was led by Managing Directors Cliff Taylor and Joe Ayers, Directors Ryan Hixon and Tucker Brooks and Associate Mike Scott.

"The overwhelming investor response demonstrates the strength of Jacksonville's Airport submarket," said Taylor.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Corner Lot Development Group is the leading independent, privately-owned real estate development firm in North Florida with business lines that include single-family, multifamily, urban, commercial and hospitality development, as well as historic preservation and home construction. The company specializes in diverse real estate projects across residential, commercial and hospitality sectors throughout the North Florida market.

Palatine is a real estate investment firm that combines operational expertise with transactional acumen to uncover and optimize value. Founded in 2007, the firm focuses on thematically aligned, needs-based and consumer-oriented sectors. Palatine’s investment strategies span commercial sectors (including self-storage, small-bay industrial and parking), as well as residential sectors (including multifamily and student housing). Since inception, Palatine has completed more than 125 investments representing approximately $3.0 billion in total property capitalization.