Cushman & Wakefield announced Dec. 28 it brokered the sale of the Fanatics distribution center at 5245 Commonwealth Ave. in Northwest Jacksonville.
The sale includes the 560,688-square-foot Fanatics warehouse and Conlan Tire’s 27,579-square-foot outparcel, the news release said.
Cushman & Wakefield did not disclose the sale price, which was not recorded with the Duval County Clerk of Courts as of noon Dec. 28.
The property last sold for $15 million in December 2018.
The 28-acre property includes 52 dock-high entrances, 447 regular parking spaces, 20 handicap parking spaces and 46 tractor-trailer parking spaces.
New York City-based DRA Advisors, a real estate investment firm, bought the property.
Cushman & Wakefield’s Mike Davis, Rick Colon, Rick Brugge, Karl Johnston and Dominic Montazemi, with support from Tyler Newman, Jacob Horsley, Zachary Eicholtz, Mark Hardee and Jordan Stenholm, represented the seller, IP Capital Partners, in the transaction.
“Fanatics E-Commerce Center boasts stable occupancy and above-market returns,” Davis said in the release. “The performance of this asset coupled with its exceptional location resulted in strong investor interest.”
The property is between Interstates 295 and 10. It is less than 5 miles from the U.S. Postal Service, FedEx and UPS shipping facilities.