The California-based HVAC manufacturer bought property in North Jacksonville.
Stone Mountain Industrial Park Inc. sold the almost 220,000-square-foot TRUaire Industries Inc. warehouse on 13.6 acres in NorthPoint Industrial Park to owners of the HVAC company.
U&Y Investments FL LLC, led by the owners of TRUaire in Santa Fe Springs, California, paid $13.96 million for the North Jacksonville property at 12128 New Berlin Road in a deed executed Jan. 2. The Florida LLC is based at the New Berlin Road property.
TRUaire makes grilles, registers, and diffusers for the residential and commercial HVAC market.
Comerica Bank made a $10 million mortgage to U&Y Investment. U&Y Investment is led by Yongki and Tony Yi, the principals of T.A. Industries Inc., which owns TRUaire.
Peter Anderson, vice president of developer Pattillo Industrial Real Estate, said the transaction was planned. Atlanta-based Stone Mountain Industrial Park Inc., which is related to Pattillo, owns the 362-acre NorthPoint.
“TRUaire intended on purchasing from the start,” he said.
Anderson said the “deal highlights a unique service we offer: financing and developing construction of industrial buildings for occupants to acquire.”
Anderson said TRUaire represents a “great company making a long-term commitment to Jacksonville and JaxPort.”
Pattillo started construction in 2018 on the 163,615-square-foot NorthPoint Building 12A in NorthPoint Industrial Park for TRUaire to lease. It expanded it by 54,300 square feet.
It replaced a 90,000-square-foot center that TRUaire leased nearby.
Anderson said in 2018 when construction began that TRUaire intended to buy the distribution center.
Bobby Gatling, senior vice president with Walker & Dunlop Investment Sales, negotiated the deal for TRUaire while he was with CBRE Inc., according to Anderson.
NorthPoint is a master-planned development at Alta Drive and Interstate 295. The park is within 5 miles of Jacksonville International Airport and 3 miles of the Jacksonville Port Authority’s Blount Island Marine Terminal.