Heritage Capital Group Inc. announced Nov. 17 that New Vision Properties Inc. completed a long-term sale-leaseback transaction between an affiliate of InLight Real Estate Partners LLC and Woodsman Kitchens and Floors Inc.
New Vision Properties was the owner of four South Jacksonville industrial buildings leased to Woodsman Kitchens and Floors.
The terms of the transaction were not disclosed. Property transactions were not recorded as of Nov. 19 with the Duval County Clerk of Courts.
Property records show that New Vision owns retail and warehouse properties at 11732 Beach Blvd., 11744 Beach Blvd., 3484 Saland Way and 3621 Beachwood Court.
Heritage Capital Group is a Jacksonville-based investment banking and financial advisory firm serving middle-market and emerging growth companies in the U.S. and worldwide.
Steel Beach Advisors LLC, the real estate and business brokerage affiliate of Heritage Capital Group, executed the transaction on behalf of its client, New Vision Properties, according to the release.
The release said CBRE’s Jacksonville office represented the buyer, InLight Real Estate Partners, a Ponte Vedra Beach industrial real estate investor and development company.
“This was a complicated transaction, and I was very pleased with the guidance and representation of the Heritage and Steel Beach teams supported by my attorney, Dennis Blackburn of Blackburn and Company,” said Rick Woods, the owner of New Vision Properties, in a news release.
InLight Real Estate Partners is led by founding partners David Burch and Jeff Berryhill, Senior Vice President Charles Margiotta, Eric Fernandez, and Jack Reddeck.
Jack Buckley of CBRE represented InLight. Scott Henley and Gary Marcy of CBRE were also part of the acquisition team.
“The Southside submarket is a tight market that is well suited for local and regional manufacturing and distribution. Our client recognized the opportunity to acquire a small portfolio of quality buildings occupied by a single proven tenant with a track record and business plan for the future. We look forward to this growing relationship,” Buckley said in the release.
The Heritage and Steel Beach deal team included Mac Holley, Bill Nicholson, Alex Kellison and Dan Edelman.
Property records show that New Vision Properties Inc. owns:
• A 20,225-square-foot retail store and 15,150-square-foot warehouse built in 1996 on 2.66 acres at 11732 Beach Blvd. used by Woodsman Kitchens and Floors.
• A 41,600-square-foot light-manufacturing facility built in 2021 on 4.24 acres at 3484 Saland Way, also used by Woodsman Kitchen and Floors.
• A 23,794-square-foot flex warehouse built in 2001 on 1.31 acres at 11744 Beach Blvd., No. 200.
• A 45,104-square-foot warehouse built in 2017 on 3.56 acres at 3621 Beachwood Court.