Press Releases

JBK Capital, LLC Acquires 400-408 Duval Street in Key West

JBK Capital, LLC, a national private real estate investment firm headquartered in New York, announced today that it, in partnership with Fidelity Real Estate Group, has acquired 400-408 Duval Street, a 32,000-square-foot retail building in the heart of Key West, Florida.

"This is a great building in a strategic location. This acquisition gives JBK a strong presence in and exposure to a very exciting and attractive market," said Bray Kelly, President of JBK.

400-408 Duval Street is located in the heart of Key West's main retail corridor, near cruise ship terminals, shops, hotels, and restaurants. Completed in the 1950's, the property offers tenants, which include Chico's, Claire's Boutique, Fresh Produce, Earthbound Trading Company, and the Key West Film Society excellent visibility to foot traffic, tourists, hotels, restaurants and other amenities in Key West.

The purchase of 400-408 Duval Street with in-place rental rates significantly below market rents follows JBK's strategic value-add philosophy of acquiring high quality commercial real estate that are underperforming.

The firm has retained Claude Gardner of Prudential Knight-Keyside Properties to handle management and leasing of the property.