Jacksonville is reviewing civil-engineering plans for Alta Lakes II Commerce Center in North Jacksonville.
The proposed 199,260-square-foot warehouse is designed on 11.9 acres at Cabot Commerce Circle and along a CSX rail line. The business park is at southwest Faye and Blasius roads, east of Interstate 295.
Through a limited liability company, real estate manager Faropoint of Hoboken, New Jersey, is shown as the owner on a preliminary site plan dated Nov. 5, 2024.
England-Thims & Miller Inc. of Jacksonville is the civil engineer. It submitted the plans Nov. 13.
City utility JEA issued a service availability determination letter July 18 for development of the proposed warehouse, called Cabot Commerce Center.
The site appears to be the second phase of Alta Lakes Commerce Center. The business park includes an Amazon delivery center.
The JEA concept plan dated June 19 showed a 191,160-square-foot warehouse on 11.85 acres. The JEA letter detailed the availability of connections, extensions and services.
Through FIVF-III-FL5 LP, Faropoint bought five industrial properties Aug. 15 in a deal totaling $63 million.
Faropoint says it owns more than 400 warehouses totaling more than 20 million square feet of space.
Faropoint.com says it is a leading buyer of small to medium last-mile logistics assets.
New York-based Brookfield Properties, which manages properties for Brookfield Asset Management, sold the properties.
Brookfield was assigned the properties Aug. 15 by New York-based DRA Advisors, who acquired them in 2017 for $31.66 million.
The properties comprise four completed buildings and one storage lot in Alta Lakes Commerce Center.
The four warehouse properties sold by Brookfield all were built in 2008.
Brookfield also sold a 15.61-acre storage lot on Cabot Commerce Drive though G&I IX Alta Lakes Land LLC for $1 million. That is where the new warehouse is planned.