DRA Advisors LLC of New York paid $49.1 million this month for Alta Lakes Commerce Center property as well as a large distribution warehouse in Flagler Center.
DRA Advisors, through limited liability companies, bought the properties from Boston-based Cabot Properties, which sold them through LLCs.
The deeds were made Jan. 13 and recorded Friday and Monday with the Duval County Clerk of Courts.
DRA Advisors and Cabot Properties did not return calls for comment.
The Duval County Property Appraiser assessed the sites at about $31 million.
DRA Advisors bought more than 920,000 square feet of developed warehouse-distribution space on 57 acres along with 15.6 acres of undeveloped land.
At Alta Lakes in North Jacksonville, it bought four completed buildings, all developed in 2008, on 34.6 acres plus the undeveloped acreage set aside for the second phase of the center.
Alta Lakes is along Interstate 295 east of I-95.
At Flagler Center in South Jacksonville, it bought a distribution center built in 1997 on almost 22.4 acres. Cabot bought it in 2007 from General Motors Corp.
Flagler Center is south of Old St. Augustine Road between I-95 and Philips Highway.
The buildings in the recorded transactions, based on the Clerk of Courts and the Property Appraiser, were:
• Flagler Center, 12751 Gran Bay Parkway W., about 355,500 square feet, $17.5 million.
• Alta Lakes, 2550 Cabot Commerce Drive, about 194,000 square feet, $8.8 million.
• Alta Lakes, 11084 Cabot Commerce Circle, about 114,600 square feet, $7.4 million.
• Alta Lakes, 2562 Cabot Commerce Drive, about 129,000 square feet, $7.3 million.
• Alta Lakes, 11070 Cabot Commerce Circle, about 131,000 square feet, $6.9 million.
The undeveloped land was bought for $1.25 million.
DRA Advisors says on its website it is an investment adviser specializing in real estate investment and management services for institutional and private investors. It has more than $9 billion in assets under management.
Since its start, the company has acquired 1,300 properties valued at more than $26 billion.
Cabot Properties said it is a private equity real estate investment firm.
In addition to acquisitions, it develops and operates industrial properties throughout North America and the United Kingdom. Formed in 1986, Cabot has invested $7 billion in industrial real estate, managing and operating more than 3,500 tenants in 160 million square feet of space.
The Cabot sale was the second large industrial transaction this year.
Atlanta- and Boston-based investors paid almost $89 million for properties in Imeson International Industrial Park this month.
MDH Partners LLC of Atlanta, through two entities, bought seven buildings for almost $54.6 million. They total more than 1.3 million square feet of warehouse and distribution space.
Boston-based STAG Industrial Holdings LLC paid $34.3 million for seven buildings comprising more than 1 million square feet.
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