Nova Group, GBC Assists CCIM Seller Representative in Negotiating Deal of Midtown Centre Office Complex in Jacksonville, FL.

At the end of last year, Southeast Regional Account Manager Rich George of Nova Group, GBC assisted CCIM’s Central District Past President Council Member Robbie McEwan and his client with selling the iconic office complex property know as Midtown Centre Office Complex in Jacksonville, FL.  Initially built in 1959, the campus-style office park consisted of 31 buildings and surface parking with a net rentable value of 776,100 SFR. Nova was retained to conduct a Property Condition Report (PCR), including an assessment of all associated building components such as roof, foundations, structural frame, building envelope, HVAC, electrical, ADA, and plumbing. The inspection also included ancillary items such as site drainage, pavement, sidewalks, and landscaping. The purpose of the PCR was to identify the required repair costs to address outstanding issues associated with the property so the sale of the property could be negotiated.

Nova mobilized three expert building engineers to evaluate the building conditions. The building inspections were done in cooperation with local maintenance staff to ensure warranty data and equipment upgrades were evaluated. The site inspections were conducted over a three-day period, where all buildings and associated site structures were evaluated. After completion of the field investigation and local building reviews, a report was prepared that included a detailed inventory of roofs, HVAC equipment, electrical systems, elevators, fire and safety equipment, tenant spaces, and ADA compliance issues. Detailed cost tables were also prepared for each building, outlining immediate repair costs and reserved repair costs.

At the completion of the report, the seller was able to present the data provided by Nova for site repairs, ultimately negotiating a deal and selling the property.

Rich George is Nova’s representative in the Florida, and he resides in St. Augustine.  Rich is an active member of CCIM’s Florida Chapters and regularly participates in CCIM Florida events and sponsorships.

Nova Group, GBC (Nova) is international, multidisciplinary advisory firm providing environmental, engineering, and energy services. With a broad depth of experts, coupled with the understanding of each clients’ unique needs, Nova specifically tailors each project and is able to provide innovative and cost-effective solutions to meet your due diligence needs.

Contact

Rich George | Regional Client Manager | 904-805-2655 | rich.george@novagroupgbc.com