The Atlanta-based Rooker real estate development company sold the Williams-Sonoma Inc. distribution center in Northwest Jacksonville for $20.7 million to a Connecticut-based investor.
Through RP Perimeter West Two LLC, Rooker sold the 168,000-square-foot building Feb. 27.
Through Jacksonville Royce LLC, JB Capital Management LLC bought the property and took out a $10.4 million mortgage with United of Omaha Life Insurance Co. of Nebraska.
Mary Giguere, a principal and co-founder of JB Capital Management, signed the mortgage as manager of Royce Properties LLC. That LLC is the member of Jacksonville Royce LLC of Woodbury, Connecticut.
JB Capital Management is based in New York City. It invests in industrial/flex, value-add multifamily and other developments with a focus on the U.S. Southeast and Northeast.
Its investment specifications are transactions of $1.5 million to $75 million for properties of 20,000 to 200,000 square feet in size built in 2019 or after.
The city approved build-out Dec. 2 for lifestyle cookware and home furnishings brand Williams-Sonoma in the center.
FCL Builders of Itasca, Illinois, renovated the 168,000-square-foot shell building at 4259 Perimeter Industrial Parkway W. in the Perimeter West Industrial Park at a project cost of $1.13 million.
Perimeter West is at northeast Interstate 295 and Pritchard Road.
The city issued a permit Jan. 14, 2022, for Rooker to build the Perimeter West Building Two speculative shell warehouse.
FCL Builders was the contractor for the $6.98 million structure on about 10.48 acres.
RP Perimeter West Two LLC was the developer of the structure.
San Francisco-based Williams-Sonoma Inc.’s brands include Williams Sonoma, Pottery Barn, Pottery Barn Kids, PBteen, West Elm, Williams-Sonoma Home, Rejuvenation, and Mark and Graham.
Pottery Barn operates at St. Johns Town Center, but Williams Sonoma and West Elm closed there.
JLL Senior Managing Director Luke Pope represented Rooker in the lease.
Principal and President J.R. Richardson and director Rich Antczak with Newmark Phoenix Realty Group and Brian Knowles, a founding principal of Lee & Associates of Eastern Pennsylvania LLC, represented Williams-Sonoma in the lease.
JLL Senior Managing Director Luke Pope represented Rooker in the lease.
Pope and Miami-based JLL Capital Markets Senior Managing Director Matt Wirth, Managing Director Luis Castillo and Director Cody Brais represented Rooker in the sale.