9143 Philips Highway
Jacksonville, Florida 33256
Exchange South is a 17.8-acre property located in the affluent Southside of Jacksonville, 1.8 miles from The Avenues Mall. The asset is a light-industrial/flex business park with 25 National and Multinational diversified tenants. The nature of the property will greatly benefit from the growth of e-commerce and expanded residential/commercial construction.
After acquisition, Savlan Capital implemented a $1MM CapEx renovation plan to improve the asset. This investment assisted Savlan in renewing and signing new leases totaling 65,000 sf of space and increasing the occupancy from 78% to 90%. With new market rental rates and an increase in occupancy the property value has increased by 151% in less then two years.
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