JAX-IMESON JV LLC, a joint venture owned by affiliates of North Signal Capital LLC and Fox Capital Partners, announced Feb. 15 it has executed a lease with RoadOne IntermodaLogistics for the warehouse at 1000 Imeson Park Blvd. in North Jacksonville.
RoadOne IntermodaLogistics, based in Randolph, Massachusetts, is a full-service intermodal transportation, national transload and warehousing operations company.
“This facility will allow us to significantly expand our operations in Jacksonville and better serve our customers there,” said Ken Kellaway, RoadOne CEO, in a news release.
“The 1000 Imeson Park Boulevard facility is across the street from our existing RoadOne operations which offered us important efficiencies. We look forward to a long and prosperous relationship with North Signal as we continue to expand our transloading footprint across the nation,” Kellaway said.
Transloading is moving freight from rail cars to trucks or vice versa.
He said the new facility at 1000 Imeson Park Blvd. expanded its Jacksonville footprint to three facilities and more than 800,000 square foot of warehouse and transload space.
“We looked at many facilities to find the right fit for our customer, and it was great how everything worked out allowing us to secure this brand-new, state of the art, facility in the perfect location,” said Chris Sloope, RoadOne vice president of operations in Jacksonville, in the release.
JAX-IMESON said the 422,136-square-foot buildlng is fully leased.
The facility has 216 parking spaces for cars, 180 for trailers and two drive-in doors.
RoadOne also is making tenant improvements that include adding dock levelers to all of the dock-high door (81 total); fencing around the site; installing a guard shack; and building-out a 100,000-square-foot climate-controlled section within the building, according to the release.
Improvements are expected to be completed by early fall 2024. In the meantime, RoadOne is operating in the warehouse.
“We hope to be able to work with RoadOne on other projects in the months and years ahead,” said North Signal Capital Partner Peter Goulding.
JLL Executive Managing Director Luke Pope, who handled leasing for the property, said the building is an example of the type most in demand in Jacksonville.
It is near the port with access to major highways and with ample parking.
“While RoadOne took the whole building, this building was designed to easily service the needs of four tenants and that optionality was quite helpful during the lease-up period,” Pope said in the release.
RoadOne IntermodaLogistics is a privately owned asset-based intermodal logistics and drayage providers with more than 2,500 drivers across more than 100 port, rail and truckload terminals.
Intermodal uses sea, rail and trucking to move freight. Drayage is moving cargo a shorter distance by truck.
The company has almost 5 million square feet of warehouse and transload space throughout the nation, as well as access to an additional 65 million square feet of warehouse and transload space through partnerships.
North Signal Capital LLC, based in Stamford, Connecticut, is a real estate investment and development firm.
Fox Capital Partners, based in Pittsburgh, is a real estate investment firm focused on the industrial sector.
JLL is a global commercial real estate and investment management company.
The city issued a permit in October 2022 for Evans General Contractors LLC of Alpharetta, Georgia, to build the 422,136-square-foot shell warehouse, called Imeson Commerce Center, on about 45 acres at 1000 Imeson Park Blvd. at a project cost of $25.7 million.
The city issued a permit Sept. 1, 2022, for site work including horizontal development, grading, paving and underground utilities.
North Signal Capital said in May 2022 it would develop the $38.5 million Imeson Commerce Center, whose property specifications showed four spaces of 99,300 to 120,035 square feet of space.
“A lot of what’s happening in Jacksonville is driven by robust population growth and that will mean rooftops and households that have the need for industrial support,” Goulding at the time.
He said the site, south along Imeson Park Boulevard, east of Interstate 95 and North Main Street, is well located relative to the JaxPort terminals, Jacksonville International Airport and the interstate system, specifically I-95.
Through Imeson Property LLC, North Signal paid $3.86 million for the site, buying it from Imeson Investments Inc. of Freeport, Bahamas. Vice President Wallace K. Groves signed the deed.