VanTrust Real Estate LLC sold the 1 million-square-foot Imeson Park South Building E to a Coral Gables group for $95 million.
Through JI IPS Building E LLC, Van Trust sold the structure at 1511 Zoo Parkway on Sept. 15 to AK Imeson LLC, whose registered agent is Interamerican Corporate Services LLC, led by lawyer Rene Murai.
The deed was recorded Sept. 20 with the Duval County Clerk of Courts.
Colliers Senior Vice President Guy Preston and Executive Vice President Ryan Vaught represented the buyer in the deal. There was no broker on the seller’s side.
The city issued a permit in September 2022 for construction of the speculative 1 million-square-foot building, also called Building 300.
Completion is expected in September 2023.
While VanTrust has not identified the tenant, the building has been identified as the location for Project Crystal, which matches the description of Sam’s Club, the wholesale membership club division of global merchandiser Walmart Inc.
City Council enacted Ordinance 2023-332-A on June 13 approving a five-year $1.5 million Recapture Enhanced Value Grant for Project Crystal based on 50% of the increase in real and tangible property taxes for the project.
According to a city memo, summary and fact sheet, the project wants to open a distribution facility in the soon-to-be-completed building under construction at 1400 Zoo Parkway, which is the 1 million-square-foot warehouse at Imeson Park South.
The building is on almost 63 acres.
VanTrust Real Estate said the Imeson Park South master plan totals 3 million square feet of industrial space.
The 214-acre Imeson Park South property is south of VanTrust’s 146-acre Imeson Park, which totals about 2.5 million square feet and includes a 1 million-square-foot Amazon fulfillment center.