Jones Lang LaSalle Inc.
04/14/2025 | Press release | Distributed by Public on 04/15/2025 23:18
Newly constructed industrial distribution center in Jacksonville, FL sold for $53.75M
MIAMI, Apr. 14, 2025 - JLL Capital Markets announced today the $53.75 million sale of Imeson Commerce Center, a newly constructed 422,136-square-foot industrial distribution center in Jacksonville, Florida.
JLL advised the sellers, North Signal Capital and Fox Capital Partners, in the transaction. CIP Real Estate acquired the asset.
Delivered in 2023, Imeson Commerce Center features 36-foot clear heights, 81 dock-high doors, 260 auto-parking spaces and 180 trailer-parking spaces. The Class A, rear-load facility is 100% leased to RoadOne IntermodaLogistics, North America's largest intermodal trucking provider. Additionally, the property has been partially demised to provide 103,000 square feet of air-conditioned warehouse space - a unique feature for buildings in this market.
The property is strategically located at 1000 Imeson Park Boulevard within Imeson Industrial Park, Jacksonville's premier logistics hub. Situated less than 15 minutes from Downtown Jacksonville, Jacksonville International Airport, JAXPORT, and major interstates I-95, I-295, and I-10, the property offers excellent connectivity to key logistics infrastructure and same-day access to over 98M consumers.
The JLL Capital Markets Investment Sales and Advisory team was led by Senior Managing Director Luis Castillo, Managing Director Cody Brais, Associate Taylor Osborne and Analyst David Orta Jr.
"We continue to see robust demand for high-quality industrial assets in Jacksonville's strategic logistics corridors, and this transaction demonstrates the enduring strength of the market," said Castillo. "Jacksonville's industrial sector has experienced unprecedented growth, with vacancy rates holding steady and rent growth continuing to climb. This performance, coupled with JAXPORT's expanding capabilities, continues to position Jacksonville as a top-tier logistics hub with strong long-term growth potential."
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL's newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About North Signal Capital LLC
North Signal Capital LLC is a real estate investment and development firm. North Signal seeks to maximize risk-adjusted returns by employing a value-based approach to real estate investing. North Signal targets investments supported by long-term secular trends. For more information regarding North Signal Capital LLC, please visit www.northsignal.com.
About Fox Capital Partners
Fox Capital Partners is a real estate investment firm focused exclusively on the industrial sector. Fox Capital manages a series of discretionary funds and joint ventures which invest alongside trusted developers and operators on institutional grade industrial developments and value-add acquisitions. For more information regarding Fox Capital Partners, please visit www.foxcapitalpartners.com.
About CIP Real Estate
CIP Real Estate LLC is a full-service real estate investment company focused on the acquisition, repositioning, re-branding, and management of industrial assets throughout West Coast, Southeast and Texas markets. Founded in 1995 and based in Irvine, CA, the company owns and manages over 10.0 million square feet of quality properties, with offices in Ontario (CA), Riverside (CA), Hayward (CA), Las Vegas, Charlotte, Atlanta and Dallas. www.ciprealestate.com