Florida & Gulf Coast + North Florida + Industrial | March 29, 2021

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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About David Cohen

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. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.