A Coral Springs real estate investment group made its first Jacksonville warehouse acquisition Wednesday, but it probably won’t be the last.
The Eisenberg Group of Companies paid $2.925 million for a leased warehouse at 8691 Western Way.
“This is the first of many to come, hopefully,” said Jay Eisenberg.
The company, in its fifth generation, buys and manages industrial and commercial properties in New York and in South and Central Florida. Its website says Eisenberg entities also invest in North Carolina holdings.
Altogether, it has about 1 million square feet of space under ownership and management.
Eisenberg said he looks for more area warehouse and industrial properties of at least 50,000 square feet. They don’t have to be leased, but shouldn’t be much older than built in the late 1980s.
He said he likes Jacksonville. “I think it’s a great city. It has a lot to offer,” he said.
Jay and Scott Eisenberg, through Western Way Jax LLC, bought the warehouse from 8691 Western Way LLC, led by Jacksonville real estate developer and manager Sam Easton.
The more than 53,000-square-foot building was developed in 1975 on 8 acres. Eisenberg said it is leased to Carrier.
The Jacksonville Bank issued a $2.065 million loan.
The Eisenberg Group and its affiliated companies continue a family venture that started in 1897 in New York as a rag business. It grew to be one of the largest recyclers of textile waste in the country and provider of cotton waste for currency and paper manufacturers throughout the world.
It also has developed large warehouse and distribution facilities.
Jay Eisenberg joined the company in 1980. When the decision was made to relocate part of the business to South Florida, he concentrated on buying and managing properties. He has led the group since 1988.
His son, Scott Eisenberg, joined in 2014, focusing on residential properties in New York and is a licensed real estate sales associate in Florida.
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