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Merritt Properties has acquired a five-building, single-story office park located at 5022 Gate Parkway in Jacksonville for $19.6 million. Karl Johnston and Traci Jenks of Cushman & Wakefield represented the seller, Boston-based Taurus Investment Group, in the transaction.

Formerly known as The Meridian at Deerwood, the newly acquired property has been renamed Merritt at Gate Parkway and is being converted to light industrial use. Plans are already underway to enhance the property by installing drive-in docks and further upgrading the facilities to meet modern industrial standards.