The Margo Garden Products distribution center in North Jacksonville sold Oct. 14 for $49.3 million.
The warehouse is at 1051 Cold Storage Road, Building 100, in Imeson Park.
The 25.95-acre property comprises a 555,920-square-foot warehouse built in 2019 and a 96-square-foot guardhouse built in 2020.
It sits west of the 1.1 million-square-foot Amazon.com center.
The buyer is Atlanta-based MDH Partners through MDH F3 Dune South LLC.
LBA Logistics of Irving, California, sold it through 10501 Cold Storage Road LLC.
MDH Partners says it is a real estate investment firm that targets industrial and logistics properties for institutional investors. It has 35 million square feet of properties under management.
The property last sold in 2020 for $43.3 million.
The Daily Record reported in 2020 that Jacksonville-based Margo State Line Inc. signed a long-term lease for the distribution center.
Margo Garden Products, founded in 2005, imports and sells decorative pebbles, stones and rocks and other products to The Home Depot, Amazon.com, Walmart Inc., Lowe’s Companies Inc. and other retailers.