The Wells Companies Inc. sold six properties totaling 73.42 acres in North Jacksonville, including the rebranded Gate Precast Co. concrete facility, April 15 for $41.61 million.
The sale of properties included the concrete facility on 47.46 acres at 402 Zoo Parkway along with four vacant and open storage properties on Somers Road and another storage area on 5.8 acres at 444 Heckscher Drive.
Albany, Minnesota-based Wells sold the property through Lan Se LLC.
Fortress Investment Group of New York made the purchase through FNLR Concrete Jungle LLC.
Wells, which builds prefabricated structures such as parking garages, acquired Jacksonville-based Gate Precast in 2024. Details of the purchase agreement were not released at the time of the sale.
As reported by the Daily Record, the acquisition included the $23.6 million purchase July 12, 2024, of the Gate Precast Co. plant.
Wells initially retained the Gate Precast name but later branded the facility under the Wells banner.
The enclosed manufacturing facility is 144,000 square feet. The site has barge-loading capacity that allows it to ship large prefabricated concrete components along the Eastern Seaboard and the Gulf Coast, according to its website.
Fortress Investment Group has bought and sold other properties in Jacksonville, including Riverplace Tower and the Hyatt Regency Jacksonville Riverfront hotel.