Boca Raton firm sells Jacksonville’s largest commercial building for $47.8M

Built in 1974, the 1.7 million-square-foot distribution center within two miles of Interstate 95 has a 74 percent occupancy rate

Miami /
Jun.June 16, 2018 05:10 PM

One Imeson Distribution Center in Jacksonville (Credit: News4Jax.com)

A 43-year-old distribution center in Jacksonville with a 74 percent occupancy rate sold for $47.8 million, almost three times the price the previous owner paid.

Real Capital Solutions acquired the 1.7 million-square-foot property from Boca Raton-based IP Capital Partners for about $28 per square foot.

IP Capital Partners bought the property, called One Imeson Distribution Center, the largest commercial building in Jacksonville, for $16.3 million in 2011 and renovated it from 2012 to 2015.

The distribution center at 1 Imeson Park Boulevard in north Jacksonville is next to U.S. Highway 17 and within two miles of Interstate 95.

Built in 1974, the property has slightly less than 1.5 million square feet of industrial space and almost 250,000 square feet of office space.

Major tenants include Venus Swimware, KoMyo America, General Dynamics and Barcardi.

A five-man team with brokerage firm Cushman & Wakefield represented the seller in the transaction: Rick Brugge, Mike Davis, Karl Johnston, Michael Lerner and Tyler Newman. – Mike Seemuth


Related Articles

arrow_forward_ios
1930 Northwest 23rd Street with (from left) Shane Neman, Richard Kilstock and David Aaron (Getty, Arkadia, Neman Ventures)
Arkadia buys cold storage warehouse in Allapattah for $5M
Arkadia buys cold storage warehouse in Allapattah for $5M
Ron Bergeron with 3310 Northwest 24th Street (Credit: Facebook and Google Maps)
“Alligator Ron” Bergeron sells properties near Miami airport to Prologis
“Alligator Ron” Bergeron sells properties near Miami airport to Prologis
Cusano’s Italian Bakery at 6806-6814 North State Road 7 (Credit: Google Maps)
Cusano’s Italian Bakery buys out landlord for $14M
Cusano’s Italian Bakery buys out landlord for $14M
South Florida’s industrial market could benefit from the coronavirus pandemic
A safe bet: South Florida’s industrial market could boom after pandemic
A safe bet: South Florida’s industrial market could boom after pandemic
18770 Northeast Sixth Avenue
Miami warehouse leased to Southeast Frozen Foods sells for $31M
Miami warehouse leased to Southeast Frozen Foods sells for $31M
Armando Codina and his daughter, Ana-Marie Codina Barlick and Beacon Logistics Park
Biggest private corporation in US inks lease at Beacon Logistics Park
Biggest private corporation in US inks lease at Beacon Logistics Park
The property and Jonathan Salk (Credit: Google Maps)
Liberty Property Trust sells Fort Lauderdale industrial buildings
Liberty Property Trust sells Fort Lauderdale industrial buildings
Clockwise from top left: 3400 Northwest 74th Avenue, the Opa-locka industrial property and Centergate at Gratigny (Credit: Google Maps)
Here are South Florida’s largest industrial sales of 2019
Here are South Florida’s largest industrial sales of 2019
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...