Jax Industrial Portfolio Trades for $47.8M
The investor duo of Redfearn Capital and TPG Angelo Gordon acquired a Jacksonville industrial portfolio for $47.8 million. Somerset Properties and CenterSquare Investment Management sold the eight buildings in the grouping which added up to 380,000 square feet. CBRE negotiated on behalf of the seller.
The properties range in size from 33,632 square feet to 73,500 square feet.
The facilities came online between 1987 and 2020. They feature 20- to 22-foot clear heights and previously changed hands in 2020, when Kennedy Investments sold them in a $28.2 million portfolio deal, according to CommercialEdge.
Tenants include Transtar Industries, Wesco, Atlantech Distribution Inc., Sunbelt Rentals and Alside Supply Center, among others, the same source shows. The portfolio was 91 percent occupied by 18 tenants at the time of the sale.
CBRE’s Jose Lobón, Frank Fallon and Trey Barry, Royce Rose, negotiated on behalf of Somerset Properties and CenterSquare Investment Management.
