An affiliate of InLight Real Estate Partners paid $14.95 million for 65.3 acres along the riverfront in North Jacksonville.
A deed recorded Jan. 11 with the Duval County Clerk of Courts shows that Somers Road Jacksonville Propco LLC, the affiliate of the Ponte Vedra Beach-based investment and development company, bought the property Dec. 30 from Container Land Associates L.P. of Isle of Palms, South Carolina.
Village Bank & Trust of Rosemont, Illinois, issued a $10.6 million mortgage.
Linda Daniels and Associates, a commercial real estate brokerage firm, announced Jan. 14 that it facilitated the transaction on behalf of the buyer and the seller.
The property is at 8730 Somers Road, east of Main Street and fronting the St. Johns River. There is a small warehouse on the site.
“Demand for industrial properties remains high in Jacksonville, due in part to the rapid growth of warehouses to support e-commerce and changes to consumer behaviors throughout the ongoing pandemic,” said the news release.
It said Container Land Associates originally planned to lease the property, but “market conditions led to a mutually beneficial sale opportunity.”
“By working closely with InLight and Container Land Associates, L.P., we were able to negotiate an agreement that made financial sense for both parties. We look forward to seeing how this land will be used in the future to support Jacksonville’s continued growth as an industrial and logistics leader,” founding principal Linda Daniels said in the release.
It said InLight plans to use the space for heavy outdoor storage to support the growing needs of JaxPort and industrial logistics operations.
It said that includes shipping container storage, tractor-trailer parking and chassis storage.
Guy Preston and Seda Preston with Colliers in Jacksonville will handle leasing at the property on behalf of InLight.
