- The Infotech Building in Celebration Pointe sold for $11 million in late September to Southpark Investment Group, a subsidiary of Gainesville-based Trimark Properties.
- The 65,000-square-foot building, completed in 2017, is 50% occupied and features solar panels supplying 20% of its power needs.
The Infotech Building at Celebration Pointe sold in late September for $11 million, with current tenants staying put as the new owner—Southpark Investment Group, a subsidiary of Gainesville-based Trimark Properties—assumes management.
The sale marks the largest commercial transaction in Alachua County since UF Health bought the former Sears at The Oaks Mall in 2020, according to Lee & Associates who represented the buyer and seller.
John Fleming, managing partner of Trimark Properties, told Mainstreet that he knew the property was on the market a few years ago. He toured and liked the building, and eventually he said the timing worked to buy it.
Trimark Properties also bought a majority share in the Seagle Building and owns the historic First Baptist Church across from it. The company also developed the Innovation District and Midpoint Park & Eatery.
Besides commercial, the company owns 26 apartment complexes in Gainesville.
Fleming said Trimark Properties was aware of the local market need for larger office space because of demand at the Innovation District.
He said Gainesville’s commercial real estate market remains in good shape, especially for smaller offices with good location and upkeep. For larger, 4,000 to 10,000-square-foot properties, he said it’s a little tougher. But the flip side is less competition for those spots.
From the landlord perspective, Fleming said the larger companies are typically more stable and remain in leases longer.
The Infotech building was designed for the needs of Infotech when it had a larger local presence. The building was completed in 2017. The building was completed in 2017, and while located at Celebration Pointe, is independently owned and not part of the greater financial issues at the shopping plaza.
At 65,000 square feet, Fleming said there aren’t a lot of potential local buyers, leaving the smaller option of an out-of-state purchase. He said Southpark Investment Group will figure out how to divide the building into sections that can accommodate new companies. Currently, it’s around 50% occupied.
According to a Lee & Associates press release, Infotech and McClave + Associates will continue as tenants, and Lee & Associates was also awarded future leasing in the building.
The owners of Infotech were also the owners of the building under McRock LLC.
Dan Drotos, Lee & Associates president and managing principal, said it was an honor to be part of the deal.
“We found the right buyer for the asset in a very challenging market, specifically for office investments with 50% occupancy,” Drotos said in the release. “Our informed strategy and disciplined execution helped us get this one to the finish line, achieving meaningful results for our clients.”
The release called the building a “striking” space for Class-A office space, with a modern design, floor-to-ceiling windows and a third-floor terrace offering views of Celebration Pointe and Florida scenery from the adjacent Lake Kanapaha Conservation Area.
The release added that 20% of the building’s power needs are supplied from rooftop solar panels and a 2,400-square-foot green roof.