Health care products distributor Henry Schein Inc. is renovating warehouse space it leases in Westside Industrial Park at an estimated project cost of $1.61 million.
The national distributor of medical and dental supplies has been expanding in Jacksonville, where JAX Chamber says it has 200 employees in the targeted industry of life sciences.
The Conlan Co. of Marietta, Georgia, is the contractor for the project at 4925 Bulls Bay Highway, Building 30, in West Jacksonville.
The city is reviewing a permit for installation of HVAC conditioning for 180,407 square feet of warehouse space within the building.
Randall Paulson Architects of Roswell, Georgia, is the architect.
Henry Schein, based in Melville, New York, has been leasing an almost 213,000-square-foot distribution center nearby at 8691 Jesse B. Smith Court since at least 2002. It was built in 2000 at Westside Industrial Park.
Upgrading facilities often means a company intends to commit to space for a longer lease term.
Nuveen, part of TIAA, bought the Bulls Bay Highway warehouse Sept. 5 for $21.1 million.
The 196,160-square-foot building on 13.35 acres was built in 2006. It is about 2.5 miles west of Interstate 295
Nuveen bought the property through Trea Bulls Bay LLC. 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.
Rosemont, Illinois-based Brennan Investment Group sold the property through 4925 Bulls Bay Hwy Owner LLC.
The property had last sold in 2022 for $15.83 million.
Henry Schein has been leasing the warehouse.
The JLL Capital Markets represented Brennan Investment in the September sale.
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.”