CIP Actual Property has acquired Imeson Commerce Middle, a just lately accomplished 422,136-square-foot Class A distribution middle in Jacksonville, Fla. JLL Capital Markets suggested the sellers, North Sign Capital and Fox Capital Companions. The transaction’s greenback worth was $53.8 million.
The mission was delivered in 2023 and is absolutely leased to RoadOne IntermodaLogistics, a number one North American intermodal trucking supplier.
Imeson Commerce Middle options 36-foot clear heights, 81 dock-high doorways, 180 parking areas for trailers and 260 areas for vehicles. As well as, the rear-load facility has been partially demised to supply 103,000 sq. ft of air-conditioned warehouse house.
The 29.6-acre property is at 1000 Imeson Park Blvd. in Imeson Industrial Park, a significant logistics hub that’s lower than quarter-hour from downtown Jacksonville, Jacksonville Worldwide Airport, JAXPORT, in addition to I-95, I-295 and I-10.
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The JLL Capital Markets Funding Gross sales and Advisory group included Senior Managing Director Luis Castillo, Managing Director Cody Brais, affiliate Taylor Osborne and analyst David Orta Jr.
Sluggish begin to 2025
Jacksonville’s industrial house market is getting off to a sluggish begin this 12 months, with general emptiness rising 180 foundation factors year-over-year to six.9 p.c and roughly a quarter-million sq. ft of detrimental internet absorption within the first quarter, in response to a brand new report from CBRE. As well as, this was Jacksonville’s first quarter of detrimental absorption since 2019.
One of many main issues on this worldwide commerce–centered market is the federal authorities’s use of tariffs as a commerce weapon. The Port of Jacksonville is the biggest by quantity in Florida and the 14th-largest within the U.S., in addition to the nation’s second-leading port for autos (ro-ro visitors).
In January, CIP acquired an 809,230-square-foot Class A industrial park in Mesa, Ariz., from Canyon Companions Actual Property LLC, the actual property direct investing arm of Canyon Companions LLC, for $168.3 million. Cushman & Wakefield brokered the sale of Broadway 101 Commerce Park and organized the $93.8 million acquisition mortgage from institutional buyers suggested by J.P. Morgan Asset Administration.
