Aerial picture of IWH Industrial Park. Picture courtesy of CBRE
IWH Capital has bought a 300,000-square-foot, six-building industrial campus in Jacksonville, Fla.—its second funding available in the market. GF Florida offered the property for $35 million. CBRE First Vice President Ben Stewart and Affiliate Kyle Fisher negotiated on behalf of the client and also will present leasing companies.
IWH Capital focuses on buying last-mile industrial merchandise. The agency’s portfolio consists of greater than 3 million sq. toes of business area unfold throughout Midwest, Mid-Atlantic and Southeast U.S.
Practically 3.2 million sq. toes of business area modified fingers in Jacksonville metro within the first six months of the 12 months, in response to CommercialEdge information. In one of many transactions, Sterling Traders paid $31.1 million for a 260,000-square-foot, Class A distribution middle. Hyperlink Logistics offered the asset, with the help of JLL.
A small bay and flex industrial portfolio
On the time of the transaction, the asset was 92 p.c leased by 22 firms working within the HVAC, electronics, healthcare and automotive industries. The portfolio encompasses the next buildings, all that includes small bay industrial and flex area:
- Monterey, a 61,688-square-foot facility situated at 8168-8190 Baymeadows Method W.
- the 57,000-square-foot Madison at 7750 Bayberry Street
- Lexington, a 9,632-square-foot workplace constructing situated at 7751 Bayberry Street
- the 40,000-square-foot Palatka, located at 7861-7875 Bayberry Street
- Denver, a 70,140-square-foot property at 7829-7859 Bayberry Street
- the 66,800-square-foot Charleston, situated at 7749-7787 Bayberry Street.
The portfolio is near Interstate 95 inside Jacksonville’s Southside submarket, 9 miles from downtown Jacksonville, 12 miles from JAXPORT and inside 24 miles of Jacksonville Worldwide Airport.
