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Jax Daily Record Wednesday, Jan. 5, 202204:18 PM EST

VanTrust sells Amazon warehouse for $103.5 million

LBA Realty bought the 1.1 million-square-foot North Jacksonville Imeson Park center built in 2019-21.

VanTrust Real Estate sold the 1.1 million-square-foot center it developed in Imeson Park to a California-based investor for $103.5 million.

Through JI Imeson Industrial Building E LLC, VanTrust sold the distribution center at 10501 Cold Storage Road on Dec. 17 to LBA Realty of Irvine, California.

LBA Realty formed LBA LVF VII-Company XXVI LLC to buy the property. The deed was recorded Jan. 5 with the Duval County Clerk of Courts.

JPMorgan Chase Bank issued a $124.4 million mortgage Dec. 17 to LBA Realty. The mortgage also was recorded Jan. 5.

JLL represented VanTrust in the sale.

VanTrust developed the structure, called Building 500, in from 2019-21 in Imeson Park in North Jacksonville.

The Seattle-based Amazon e-commerce retailer announced in September 2020 that it would open a 500-job Jacksonville fulfillment center in fall 2021 at the building.

Construction plans call it a Softlines fulfillment center. Amazon said the center will pick, pack and ship small items, including apparel, accessories and footwear.

VanTrust owns Imeson Park, which is at northeast North Main Street and Zoo Parkway.

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