Rosemont Realty acquires Jacksonvilles's 288, 147 s/f three-building Concourse Office Complex

Rosemont Realty, LLC has acquired the three-building Concourse Office Complex. The acquisition of Concourse has added 288,147 s/f of class A office space to Rosemont Realty's portfolio. Rosemont Realty purchased the office building from Northwestern Mutual for an undisclosed amount. In 2012, Rosemont Realty acquired eight Class A or Class B commercial properties, representing more than 2.5 million s/f valued at approximately $250 million. The 2012 acquisitions were in Albuquerque, Birmingham, Denver, Houston, Memphis, Nashville, San Antonio and Tulsa. Concourse fronts I-95 on Belfort Road in Jacksonville and is just one-quarter mile from the J.T. Butler Boulevard (SR 202) interchange. The complex consists of three, four-story office buildings, constructed between 1998 and 2001. Each building contains 96,000 s/f. The Concourse complex is currently leased at 88 percent occupancy. Tenants include DeVry University, SJ&P advertising agency, Diversified Clinical Services, Meridian Technologies, Gresham, Smith and Partners, and Pulte Homes, among others. "The Concourse in Jacksonville is Rosemont's first acquisition in 2013," said Daniel Burrell, CEO of Rosemont Realty. "We have confidence in the Jacksonville market and will continue to evaluate high quality opportunities in Florida's high growth markets." Rosemont Realty now controls five commercial office properties in Florida, representing 720,000 s/f, including: * Metro Parkway - Fort Myers * Butler Pointe- Jacksonville * Concourse - Jacksonville * Westland One - Jacksonville * Cypress Pointe - Tampa