Flagler Development sold eight buildings at Jacksonville International Tradeport last week to a California investment group for $37.15 million.
The warehouse-distribution buildings total more than 903,000 square feet of space and encompass 64.7 acres. The Tradeport is off Airport Road and Interstate 95 near Jacksonville International Airport.
Through FDG Jacksonville International Tradeport LLC, Flagler sold the warehouse-distribution properties at the North Jacksonville business park to Catellus Development Corp., a master developer based in Oakland, Calif.
Wells Fargo Bank issued a $22.5 million mortgage and security agreement to the company, which did the deal through Lightning PropCo V LLC.
The deed was signed Friday and recorded Wednesday with the Duval County Clerk of Court.
The eight structures, built between 1995 and 2003, are:
• 1350 Tradeport Drive; 98,540 square feet.
• 1371 Tradeport Drive; 116,784 square feet.
• 13340 International Parkway; 81,277 square feet.
• 13910 Alvarez Road; 116,934 square feet.
• 13920 Alvarez Road; 134,711 square feet.
• 1420 Vantage Way S.; 147,000 square feet.
• 1460 Vantage Way S.; 96,569 square feet.
• 13291 Vantage Way; 111,411 square feet.
The buildings are known as the TDC I, II, III (Phase 2), VII and VII; TV I and TV II; and Enterprise Center.
Catellus traces its roots to 1984, when Santa Fe Industries and Southern Pacific Co. proposed a merger to form Santa Fe Southern Pacific Corp.
Catellus.com reports the companies spun off a wholly owned subsidiary, named Santa Fe Pacific Realty Corp., to conduct non-railroad real estate activities.
In 1990, Santa Fe Pacific became an independent, publicly traded company and was named Catellus, which later merged with ProLogis and its extensive industrial portfolio.
Today, Catellus operates as an independent company.
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