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Florida & Gulf Coast   /   March 29, 2021

David Cohen
By: David Cohen

Jacksonville Industrial Facility Trades for $41M

Cushman & Wakefield has arranged the $40.6 million sale of the Northeast Florida Industrial Center, a 782,025-square-foot warehouse and distribution center in Jacksonville.

Located at 4627 J.P. Hall Blvd., the property is nearby the First Coast Expressway in one of Florida’s premier regional distribution hubs. The center is currently 83% leased and includes cold storage as well as clear heights of 30 feet, 140 dock-high loading doors, 11 grade drive-in doors and interior enclosed rail access.

Mike Davis, Rick Brugge, Rick Colon, Karl Johnston and Dominic Montazemi of Cushman & Wakefield represented the seller, Real Capital Solutions, in the transaction. Green Cove Springs Distribution Center LLC acquired the property. In addition, Cushman & Wakefield’s Equity, Debt and Structured Finance Team secured a $27 million non-recourse loan for the buyer from CIT Bank. The loan provides funding for both the acquisition and future capital and leasing costs.

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David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles.
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