5950 NW 1st Place, Gainesville, FL
Office for Sale - $10,750,000 - 63,503 Sq. Ft. on 5.51 acres


Property Info
CIMLS# | 967652 |
Location 5950 NW 1st Place Gainesville FL 32607 | |
Updated | January 9th, 2018 |
Type | Office |
Price | $10,750,000 |
Building | 63,503 Sq. Ft. |
Land | 5.51 acres |
Property Description
Executive Summary
True Class A Office Investment Opportunity in Gainesville Florida with easy access to I-75. The subject property consists of 5.51 Acres and 63,000+ SF of Office space on 3 floors. Tenants include Naylor Publications (floors 1 & 2) and Partnership for Strong Families (3rd floor). Leases end 2025. The property also includes a new (2017) 2,176 SF single family home that Partnership for Strong Families uses to serve their clients. Professional management in place. Call for financials and rent roll.
Investment Highlights
Strong Tenants: For over 50 years Naylor has been helping associations think differently about effective revenue generation and member engagement. They currently serve over 1,800 associations across 110 industries and have successfully generated over $750 Million for their clients in the past 20 years. Partnership for Strong Families is headquartered in the subject property and has served the Department of Children & Families (DCF) since 2003. Their reach includes Alachua, Bradford, Columbia, Dixie, Gilchrist, Hamilton, Lafayette, Levy, Madison, Taylor, Baker, Suwannee and Union Counties.
Length of Term and History: Naylor has occupied the subject property since it was built in 2004 and signed a 10 year renewal in May of 2015 extending their current term through April 2025. They have two additional 5 year options to renew beyond 2025. Partnership for Strong Families has occupied the subject property since September of 2010 and signed a 10 year renewal in January of 2016 extending their current term to January of 2025. In addition, a newly constructed (2017) single family home was added to their lease in June of 2017 and is also under lease until January of 2025.
Excellent Central Location: The building sits across the street from the Oaks Mall in the heart of Gainesville with easy access to Newberry Road, one of the counties busiest thoroughfares. ADT on Newberry Road is 49,500 and on Interstate 75 is 84,000.
Educated Work Force: Business' strategically locate in Gainesville due to the highly educated population and direct access to some of the brightest students in the Southeast. The University of Florida is home to over 52,000 students (5th largest by enrollment) and currently ranks as the #9 Public University in the country. Santa Fe College's enrollment exceeds 17,000 and is currently ranked the #1 college in the United States.
Strong Corridor: Newberry Road serves as the major East West thoroughfare in the County connecting West Gainesville, which contains the strongest demographics in areas such as Haile Plantation and Tioga, to the University of Florida and downtown. This section of road is home to the 900,000 SF+ Super Regional Shopping Center, Oaks Mall. It is also across the street from Hospital Corporation of America's (HCA) North Florida Regional Medical Center, a 432 bed full service hospital on a 32+ Acre campus with over 2,000 employees. This area serves as one of the main Office and retail/restaurant areas of town and is one of the busiest interstate exchanges in North Florida.
Naylor Association Solutions
Exclusively serving the association marketplace as a leading provider of print and online media and event management solutions, Naylor says its expertise and breadth of solutions is what makes it different. Established in 1969, Naylor Association Solutions provides associations in the United States and Canada with specialized-turnkey services to help build image and drive non-dues. Due to its core operating values and desire to serve as an extension of an association