Property History
Marcus & Millichap is pleased to offer this excellent investment opportunity for sale in Jacksonville, North Carolina.
The building was constructed in 1966, renovated in 1996, 2025, and consists of 19,512 square feet of office (62%) and 11,959 square feet of industrial space for total of 31,471 square feet and sits on large 4.21 acres of land.
The lease guarantor is a publicly traded Gannett Media Corporation who occupied since May of 2013 until it was subleased to 104 year old JINGOLI Power LLC in 2025. Gannett Media Corporation owns USA Today and operates many media entities throughout the US. JINGOLI Power offers full turnkey project execution services including Engineering Procurement and Construction services, General Contracting, and Design, Build, Own, Operate, and Maintain (DBOOM) for the energy sector. Visit their website to gain more insights into the company at www.jingolipower.com.
Jacksonville is the county seat of and the most populous community in Onslow County, North Carolina, which is coterminous with the Jacksonville, NC Metropolitan Statistical Area. As of the 2020 census, the population was 72,723, which makes Jacksonville the 14th-most populous city in North Carolina. Demographically, Jacksonville is the youngest city in the United States, with an average age of 22.8 years old, which can be attributed to the large military presence. It is the home of the United States Marine Corps' Camp Lejeune and New River Air Station. Jacksonville is located adjacent to North Carolina's Crystal Coast area.
This is an excellent opportunity to acquire an office/industrial property with very strong tenant at below replacement cost.
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Corporate Guarantee by Gannett Co. Inc., The Owner of USA Today and Many Other Media Companies, Publically Traded: GCI
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Subtenant: JINGOLI Power offers full turnkey project execution including Engineering Procurement, Construction, General Contracting, and Design, Build, Own, Operate, and Maintain for the energy sector
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7+ Year Remaining Lease on Absolute NNN, 2.1% Annual Increases
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Two 10-Year Options with 2.3% Annual Increases
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62% (19,512 SF) Office & 38% (11,959 SF) Industrial
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Built in 1966, Renovated in 1996 and 2025
- Public traded company
- Long term lease
- Established news company
- Absolute Net lease with no landlord responsibilities
- Growing City
Loan History
Financial History
Tax History
Contact Information
Ownership Information
Zoning
Property Details
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Map
Comparable Properties
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