For the third time recently, an industrial portfolio has traded in JAX. The latest was Cabot Properties’ exit of the market with the sale to NY-based DRA Advisors of about 924k SF of warehouse-distribution space in five buildings around town, four up at Alta Lakes and one at Flagler Center, plus some 16 acres at Alta Lakes.
Earlier in January, MDH Partners of Atlanta paid $54.6M, or $42/SF for seven buildings and 1.3MSF of warehouse space around Imeson Park on the north side of town and Boston-based STAG Partners paid $34.3M of about $34/SF for seven area buildings.
Karen Brune Mathis of The JAX Daily Record has the article on all three here.
JZ Expedited Logistics will re-located from Southside Blvd. to a 40,000 SF warehouse at Imeson this summer. Karen Brune Mathis of The JAX Daily Record has the announcement and a brief story on the local freight-forwarding firm.
Imeson International Industrial Park has filed site plan with the city to build a 720k SF cross-docked distribution center. Timing of the development is uncertain but developer Dan Webb says they would likely not go speculative until a 180k SF block of space is leased at its nearby 780 Whitaker Road building. The new building could be developed in two phases and could be finished in 8-12 months depending upon how much up front work is done; hence, the filing now to be ready in light of “an improving economy”. Karen Brune Mathis has the story for The JAX Daily Record.