Principals of New York-based Dynarex Corp. bought an almost 279,000-square-foot office-warehouse at 14500 Hyatt Road in North Jacksonville last week to use for their company and to lease out additional space to tenants.
The deed was made Wednesday and recorded Friday with the Duval County Clerk of Court.
14500 Hyatt Road LLC paid almost $3.28 million for the property, which sits on more than 98 acres between Interstate 95 and Main Street, north of I-295 and River City Marketplace.
Colliers International Northeast Florida had been marketing the property as a redevelopment opportunity at a listing of $3.75 million. It is assessed at almost $2.8 million for tax purposes by the Duval County Property Appraiser.
14500 Hyatt Road LLC comprises Zalman, Morris and Judith Tenenbaum. Zalman Tenenbaum is CEO of Dynarex, based in Orangeburg, N.Y.
The Tenenbaums bought the property from Pine Hyatt Road Holdings LLC, which is part of Sabal Financial Group L.P. of Newport Beach, Calif.
That group acquired the property in 2014 from EverBank, which had taken title to the property in 2012.
Mark Scott, senior director of the industrial group for Graham & Co., represented the buyers. He said Dynarex, a medical supplies manufacturer and distributor, will occupy about 125,000 square feet of the building by the first of the year and lease out the remaining space.
Dynarex now leases about 75,000 square feet of space in Jacksonville among two other locations and those leases are expiring in the first quarter, Scott said.
Scott said Dynarex will retrofit the building and bring it up to date. Property records show it was built in 1984. Colliers International said it was renovated in 2007.
Colliers International Northeast Florida CEO Robert Selton and Executive Vice President Guy Preston represented the seller.
Selton said Monday the property was developed for Pic N’ Save, a former Jacksonville-based discount chain. The warehouse has been vacant for several years but previously was owned and occupied by trucking and logistics companies.
He said the building has not been occupied for several years.
Dynarex was established in 1967 and said it has evolved into one of the health care industry’s leading manufacturers of disposable medical products.
Its categories included wound care, antiseptic products, personal protection, patient care, diagnostics and first aid.
In addition to manufacturing facilities and distributor partners around the world, Dynarex has five regional U.S. warehouses, including in Jacksonville.
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