Sale of distribution center in Jacksonville closes
JLL Capital Markets arranged the sale of the newly completed Perimeter West Building 2
ATLANTA, March 7, 2023 – JLL Capital Markets announced today that it has closed the sale of Perimeter West Building 2, a newly built distribution center totaling 168,000 square feet in Jacksonville, Florida.
JLL represented the seller, Rooker, in the sale to JB Capital Management.
Completed in December 2022, Perimeter West Building 2 was 100% pre-leased to Williams-Sonoma, one of the country’s largest e-commerce retailers. The rear-load building features 32-foot clear heights, 37 dock-high doors, two drive-in doors, a 210-270-foot truck court, 105 parking spaces and 82 trailer spaces.
The property is situated on approximately 10.5 acres at 4259 Perimeter Industrial Pkwy West adjacent to Interstate 295’s diamond interchange and under five miles from Interstate10 in Jacksonville’s most sought-after West Side submarket. This strategic location provides exceptional connectivity to dense population centers within the city, including direct routes to the Jacksonville CSX Intermodal terminal and Jacksonville Port. Jacksonville’s population is double the size of Charleston and quadruple the size of Savannah, ideally positioning the city to distribute to a higher density of consumers as well as the entire state of Florida. In addition, the property is proximate to the JAXPORT Talleyrand Intermodal Yard and Jacksonville International Airport.
The JLL Capital Markets Investment Sales Advisory team representing the seller was led by Managing Director Luis Castillo, Director Cody Brais, Senior Managing Director Matt Wirth and Analysts Taylor Osborne and Bo Osgood. Additionally, the JLL Leasing team representing the tenant was led by Senior Managing Director Luke Pope.
“The combination of a best-in-class developer, newly-built Class A warehouse and wide marketing effort that identified a buyer led to an incredibly smooth transaction between two first-class companies – Rooker and JB Capital Management,” said Brais.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $20.9 billion, operations in over 80 countries and a global workforce of more than 103,000 as of December 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.