JLL arranges $28.15M sale of 226.5K-SF business park in Jacksonville

JACKSONVILLE, Fla., Aug. 18, 2026 – JLL Capital Markets announced today the $28.15 million sale of Cypress Point Business Park, a six-building flex portfolio totaling 226,500 square feet in Jacksonville's highly sought-after Butler/Baymeadows submarket.

JLL represented the seller, Viking Partners Cypress LLC, in the transaction. Nashville, Tenn.-based BlueCrest Capital Advisors acquired the asset.

The 62% occupied portfolio comprises four traditional office buildings totaling 146,500 square feet and two industrial flex buildings totaling 80,000 square feet. Strategically positioned with superior highway connectivity, the property offers direct access to Interstate 95 and U.S. Route 1, placing tenants within a 10-minute drive of St. John's Town Center.

The two fully occupied industrial flex buildings feature enhanced clear heights of 20 feet and nine dock-high roll-up doors, catering to strong tenant demand for versatile warehouse and distribution space in Jacksonville's dynamic market. An additional seven-glassed-in dock-high bays can be easily converted to roll-up doors if needed. The four office buildings feature ceiling heights ranging from 13 to 14 feet and provide flexible floor plates suitable for a variety of office users. The 21-acre business park surrounds a 10-acre lake and includes lakefront pavilions and a walking and jogging trail.

The property's diversified tenant roster spans multiple industries, including insurance, home construction, facilities management, marketing and security. With nearly 85,000 square feet of available space across three buildings, Cypress Point Business Park presents substantial value-add potential through strategic lease-up and repositioning initiatives.

Located in Butler/Baymeadows, Jacksonville's premier submarket, the property benefits from excellent connectivity to popular metro destinations, affluent residential communities, sought-after schools, beaches and dynamic employment hubs. The trade area features several upscale retail and restaurant destinations, including The Pavilion at Durbin Park, Shoppes at Bartram Park and St. John's Town Center.

The JLL Capital Markets team was led by Managing Director Robbie McEwan and Analyst Jesse Jones.

"Viking Partners Cypress recognized this was an optimal time to bring this asset to market given the strength of Jacksonville's investment sales environment and the property's compelling story of location, quality and upside potential," said McEwan. "Buyer interest was driven by the combination of an attractive cost basis, existing tenant quality and the opportunity to capture meaningful net operating income growth through lease-up in a market experiencing strong population and employment growth."

JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom. 

JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of March 31, 2026. For over 200 years, clients have trusted JLL, a Fortune 500^® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

Founded in 2008, Viking Partners is a private real estate investment firm specializing in value-add real estate investments, with a focus on creating long-term value through disciplined acquisition and active asset management. Viking has acquired over $1.5 billion in assets and raised more than $415 million in equity across a diversified portfolio of commercial properties.

With a vertically integrated platform, Viking combines institutional investment discipline with entrepreneurial execution across industrial, retail and office sectors. The firm is particularly active in Midwest and Southwest commercial real estate investments, targeting high-growth secondary markets where operational leverage and pricing power create strategic advantages.

To learn more, visit vikingprt.com, follow Viking on LinkedIn, or explore the current offering at invest.vikingprt.com. 

Bluecrest Capital Advisors is a Nashville-based real estate investment firm led by Scott Porter and John Colucci. The firm seeks to assemble a portfolio of more than 1 million square feet of small bay light industrial assets with significant value propositions throughout the Southeast over the next four years. The combined leadership of Porter and Colucci brings 50 years of proven performance and experience transacting $6.7 billion of commercial real estate and developing and managing over three million sq. ft. of assets. For more information, visit bluecrestcapital.com.