A warehouse at 4925 Bulls Bay Highway in Westside Industrial Park in West Jacksonville sold Sept. 5 for $21.1 million.
The 197,164-square-foot building on 13.35 acres was built in 2006. It is about 2.5 miles west of Interstate 295
The buyer was Nuveen through Trea Bulls Bay LLC. Nuveen, part of TIAA, is a global investment company that manages $1.3 trillion in assets, according to its website. TIAA is headquartered in New York and Nuveen in Chicago. The LLC shows the New York address of TIAA.
The seller was Rosemont, Illinois-based Brennan Investment Group through 4925 Bulls Bay Hwy Owner LLC.
The building is leased by Henry Schein, a health care products distributor.
The JLL Capital Markets represented the seller. Its team comprised Managing Director Cody Brais; Senior Managing Director Luis Castillo; Associate Taylor Osborne and Analyst David Orta Jr.
"This was an excellent asset in Brennan Investment Group's portfolio that attracted strong institutional interest," Brais said in a news release. "Jacksonville's industrial market continues to outperform with sustained rent growth and low vacancy, which was further complemented by the stability of a Fortune 500 tenant and the upside potential of future expansion on excess land with this offering."
The warehouse last sold in 2022 for $15.83 million.