A joint venture of East Capital Partners and Tranview Capital offloaded an eight-building multitenant industrial portfolio for $35 million. The 230,000-square-foot Airport Jax Small Bay Portfolio was 92% leased at the time. It’s being rebranded at InSpace at Jax.
A CBRE team made up of Kyle Fisher and Kyle Murphy represented the sellers. NorthBridge Partners was the buyer.Â
Located at 14475 Duval Place West in Jacksonville’s Northside industrial submarket, the portfolio has a diverse mix of 45 tenants across a range of industries. The property is less than one mile from Interstate 95 and approximately 2.5 miles from Jacksonville International Airport.
The transaction underscores continued investor interest in Jacksonville’s industrial market, particularly in the Northside submarket. CBRE Research reported approximately 1.3 million square feet of leasing activity in Northside during the second quarter, while the overall Jacksonville market posted nearly 583,000 square feet of positive net absorption and declining vacancy.
The post JV Sells 8-Building Jax Warehouse Portfolio for $35M appeared first on Connect CRE.
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