GCP – Graham Commercial Properties – paid $49 million to buy the 872,627-square-foot NorthPort Logistics Center in North Jacksonville.
The center, at 11530 New Berlin Road, was built in 2009 and is fully occupied by Gildan Activewear and Grimes Logistics.
Wells Fargo provided financing.
GCP, based in Birmingham, Alabama, bought the property from Colorado-based Real Capital Solutions, which paid $33 million for it in 2015.
Peter Crolius, regional director of investments for GCP, said in a statement that NorthPort is a significant addition.
“The purchase provides additional scale to our Florida holdings and aligns with GCP’s focus on acquiring Class A distribution facilities in growth markets throughout the Southeastern U.S.,” Crolius said.