Bluerock Real Estate L.L.C. paid $18.17 million on March 14 for Lane Industrial Park Building 2 eight months after buying Building 1, completing its ownership of the Northwest Jacksonville warehouse center.
It bought the property from companies owned by former Lt. Gov. Carlos Lopez-Cantera.
New York City-based Bluerock paid $19.13 million on July 5, 2022, for Lane Industrial Park Building 1.
Through BRI 2240 North Lane Avenue LLC, Bluerock bought the first building at 2240 Lane Ave. N. from Jax Industrial One Ltd., led by Lopez-Cantera.
Through BRI 2280 North Lane Avenue LLC, it bought the second at 2280 Lane Ave. N., also from Jax Industrial One Ltd.
Bluerock is an institutional alternative asset manager with $14 billion of acquired and managed assets.
Each 160,000-square-foot Lane Industrial Park building is shown on a Colliers commercial real estate brochure as fully leased.
In Building 1, Cenntro Electric Group Ltd. is leasing about 100,000 square feet; Conn’s HomePlus, 20,170 square feet; Forward Air, 20,000 square feet; and Seal Shield, almost 20,000 square feet.
In Building 2, which is completed, New Jersey-based Metropolitan Warehouse & Delivery is building-out as the first tenant in 60,654 square feet of warehouse space.
Colliers Executive Director Guy Preston and Associate Director Seda Preston in Jacksonville and Ryan Vaught, executive managing director of industrial capital markets in the Southeast U.S. Region in Tampa, represented the seller in the transactions.
Guy Preston and Seda Preston comprise the leasing team for the property.
Lane Industrial Park was designed as two 160,000-square-foot warehouses at northwest Lane Avenue and 12th Street.
A group led Lopez-Cantera bought the Northwest Jacksonville property Nov. 18, 2020.
Jax Industrial One Ltd. bought 24.6 acres for $1.15 million from a group led by lobbyist Deno Hicks and former JEA CEO Aaron Zahn.
First American Bank of Elk Grove, Illinois, issued a $19.5 million construction mortgage and security agreement to Jax Industrial One Ltd.
Kasper architects + associates was the architect.
The city issued a permit Jan. 12, 2021, for Foresight Construction Group Inc. of Jacksonville to build the 161,355-square-foot Building 1 at a cost of $9.16 million.
The city issued a permit Feb 4, 2021, for Arco Design/Build to build the 161,335-square-foot Building 2 at a job cost of $6.55 million.
A site brochure says the project can offer spaces from 20,000 square feet to the entire structure.
The total parking for both buildings is 365.
Lopez-Cantera is working on more area industrial parks.
Dundas Industrial Park comprises three multitenant buildings comprising 60,313 square feet, 48,000 square feet and 30,000 square feet.
The city is reviewing permit applications for three buildings that total 138,313 square feet of space on almost 10 acres at 440 Dundas Drive in North Jacksonville.
Airport Industrial Park East comprises two industrial buildings totaling 425,000 square feet in North Jacksonville.
Jax Industrial Three Ltd. proposes the buildings – at 200,000 square feet and 225,000 square feet – on about 30.2 acres along International Airport Boulevard, about 1 mile south of Pecan Road.
The site is east of Jacksonville International Airport and west of I-95.
The city is reviewing civil engineering plans for the project.
Former Gov. Rick Scott appointed Lopez-Cantera as lieutenant governor in January 2014, succeeding Jennifer Carroll, who resigned the position in 2013. Voters elected Lopez-Cantera to a full term with Scott in November 2014.