A 52,482-square-foot industrial building at 924 N. Lane Ave. in West Jacksonville sold May 6 for $8.25 million, according to Duval County property records.
In a May 14 news release, NAI Hallmark announced that the company’s Daniel Burkhardt and Alex Caliel, along with Michael Havens of Havens Commercial, represented the buyer, Lebberes Realty Corp. Kyle Murphy and Kyle Fisher of CBRE represented the seller, according to the release.
The property was purchased through 41 West 28th Street Corporation of Franklin, Tennessee.
The sale was made through North Lane Avenue Property Owner LLC of New Orleans.
Lebberes Realty Corp. took out a $750,000 loan from Pinnacle Bank of Nashville, Tennessee.
The building was constructed on 3.27 acres in 1961.
The Triangle Fastener Corp. is one of the tenants.
The warehouse has 16-foot clear heights, wet sprinkler systems and dock-high loading access with a 105-foot truck court. It has been recently renovated.
“This acquisition presented an opportunity to secure a well-located industrial asset with strong operational functionality and meaningful recent improvements,” Burkhardt said. “The property’s access to Jacksonville’s transportation infrastructure and distribution network made it an attractive fit for our client’s investment objectives.”
The transaction calls for NAI Hallmark to retain management responsibilities for the property that started in 2022.
At that time, the property had several interior and exterior problems, according to the NAI Hallmark website. They included a lack of building upkeep as well as a delinquent landscape and parking lot maintenance. The roof also was a concern.
Exterior repairs were completed in 2023. Interior work that began in 2023 is still underway.