The 422,136-square-foot warehouse at 1000 Imeson Industrial Park Blvd. in North Jacksonville sold April 9 for $53.75 million.
The buyer was CIP Real Estate of Irvine, California, through CIP Imeson LLC.
The seller was North Signal Capital of Stamford, Connecticut, and Fox Capital Partners of Pittsburgh, through Imeson Property LLC.
JLL Capital Markets of Miami brokered the deal for the sellers.
The property is leased by RoadOne IntermodaLogistics.
Based in Randolph, Massachusetts, RoadOne is a full-service intermodal transportation, national transload and warehousing operations company.
It is ranked the top intermodal trucking provider in North America, according to a JLL news release.
RoadOne is leasing two other warehouses in Jacksonville.
The warehouse, built in 2023, is on 29.6 acres. It has 36-foot clear heights, 81 dock high-doors, 260 auto parking spaces and 180 trailer parking spaces. It has 103,000 square feet of air-conditioned space.
CIP Real Estate, an acquisition and management company, was founded in 1995. It has more than $2.5 billion in real estate transactions and manages more than 10 million square feet of properties. It has offices in Riverside and Hayward, California; Atlanta; Charlotte, North Carolina; Las Vegas; and Ontario, Canada.
North Signal Capital is an investment and development firm specializing on properties in the Southeast. Fox Capital Partners is a real estate investment firm focused on industrial properties.
The JLL Capital Markets Investment Sales and Advisory team was led by Senior Managing Director Luis Castillo, Managing Director Cody Brais, Associate Taylor Osborne and Analyst David Orta Jr.
“We continue to see robust demand for high-quality industrial assets in Jacksonville’s strategic logistics corridors, and this transaction demonstrates the enduring strength of the market,” Castillo said in the release.
“Jacksonville’s industrial sector has experienced unprecedented growth, with vacancy rates holding steady and rent growth continuing to climb. This performance, coupled with JAXPORT’s expanding capabilities, continues to position Jacksonville as a top-tier logistics hub with strong long-term growth potential.”
JLL is a global Fortune 500 commercial real estate and investment management company that manages and invests in a variety of commercial, industrial, hotel, residential and retail properties. Its annual revenue is $23.4 billion. It operates in more than 80 countries with more than 112,000 employees.