CBRE arranged the deal for the 469,830-square-foot building in North Jacksonville.
Constellation Brands, a Fortune 500 company that is among the nation’s largest beer distributors, signed a long-term lease for a 469,830-square-foot warehouse in Imeson Industrial Park, according to the CBRE real estate firm.
It is the company’s first distribution center in North Florida. Products will arrive by rail and be distributed by trucks.
Constellation Brands expects to occupy the property immediately.
CBRE said in a news release the North Jacksonville warehouse is on 24 acres at 600 Whittaker Road, about 1.5 miles east of Interstate 95. It has a warehouse and office space, 32-feet clearance height, 54 docks, trailer parking and direct rail access. A guard house secures the property.
Constellation Brands, based in Victor, New York, specializes in premium beer, wine and spirits.
According to cbrands.com, its imported beer brands include Corona Extra, Corona Light, Corona Premier, Modelo Especial, Modelo Negra and Pacifico.
Its premium wine and spirits brands include Robert Mondavi, Kim Crawford, Meiomi, The Prisoner, SVEDKA Vodka, Casa Noble Tequila and High West Whiskey.
Gary Marcy and Nathan Rogers of CBRE represented the landlord, LRC Properties of New York.
600 Whittaker Industrial LLC, part of Invesco Real Estate in Dallas, sold the property to 600 Whittaker LLC, a subsidiary of LRC Properties of Rye Brook, New York, for $29.6 million on May 28.
“Last year we sold this building to LRC as a speculative investor. Since closing on the sale we were able to secure a long-term tenant with exceptional credit that will utilize this rail-served building for years to come,” Marcy said.
“Industrial demand in Jacksonville remains strong, however, very few existing buildings or buildings under construction can accommodate users needing more than 100,000 square feet with 28-foot or greater clear heights,” Rogers said in the release.
CBRE Research shows that the vacancy rate for industrial properties in the area dropped to 4.1% in the fourth quarter of 2021.
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