The Cushman & Wakefield commercial real estate services firm announced June 6 that it arranged the sale of an eight-building industrial park in North Jacksonville to Dallas-based Lincoln Property Co.
The purchase price was not disclosed and has not been recorded with the Duval County Clerk of Courts as of 9:30 a.m. June 6.
The news release says the property totals 933,478 square feet, comprising:
• Three buildings at 13845, 13903 and 13949 Alvarez Road.
• Two buildings at 13525 and 13475 International Parkway.
• One building at 1750 Airport Road.
• One building at 1594 Transport Road.
• One building at 13500 E. Tradeport Circle.
Cushman & Wakefield said the property was 97% leased at the time of the sale.
Duval County Property Appraiser records show the sellers comprise Colfin 2017 limited liability companies from Dallas affiliated with Jackson-Shaw.
The release said the eight buildings feature new-build design and are within 1½ miles of each other.
They are near the interstate and rail systems, Jacksonville International Airport and JaxPort.
Cushman & Wakefield’s Mike Davis, Rick Brugge, Rick Colon, and Dominic Montazemi, with support from Brooke Tully and Zachary Eicholtz, represented the seller in the transaction.
Tyler Newman and Jacob Horsley of Cushman & Wakefield in Jacksonville provided local leasing expertise, the release said.
“This is one of the premier industrial portfolios in Jacksonville. Its proximity to the Jacksonville airport and road systems accessing the metro area makes this the location of choice for image conscious corporate users requiring highly functional distribution space,” said Davis, executive vice chairman, in the release.