Industrial painting and flooring company will use the facility as its Southeast hub.
Bailey Publishing & Communications Inc., the former publisher of the Jacksonville Daily Record, sold its 16,550-square-foot Westside warehouse to Savage Brothers Inc. for $730,000.
Savage Brothers, an industrial painting and flooring company, will use the warehouse, at 6566 Commonwealth Ave., as its Southeast hub, Cushman & Wakefield said in a news release. Savage Brothers previously leased space at 5800 France Ave. It will move 50 employees to the facility, which includes 2,275 square feet of office space.
Taylor Calfee of Cushman & Wakefield represented Savage Bros.
Savage Property Development LLC bought the property June 11. CenterState Bank issued a $744,000 mortgage.
“This was a strategic acquisition for Savage Brothers,” Calfee said. “By choosing to own their own real estate, management has solidified the company’s presence in Florida, while also making a stable investment in Jacksonville’s growing industrial market.”
In addition to Jacksonville, Savage Brothers has offices in Nashville and Memphis, Tennessee and Dallas. The Jacksonville will office will serve its Florida markets including Tampa, Miami and Orlando.
Bailey Publishing & Communications Inc. sold the Jacksonville Daily Record in 2017 to Daily Record & Observer LLC, a company headed by Matt Walsh, CEO and owner of Sarasota-based Observer Media Group Inc.
In April, former Financial News & Daily Record Publisher James F. Bailey Jr. sold the Downtown building the newspaper occupies at 10 N. Newnan St. to restaurant, bar and lounge owner Scott McAlister.