Sale of Volkswagen Parts Distribution Center in Jacksonville closes
JLL Capital Markets completes sale of 260,000-square-foot industrial facility in Jacksonville, Florida
MIAMI, May 22, 2023 – JLL Capital Markets announced today that it has closed the sale of 4150 Perimeter Industrial Pkwy, a 260,000-square-foot distribution center in Jacksonville, Florida.
Constructed in 2008, the property is fully leased to Volkswagen Group of America and sits on 15.35 acres in the Westside submarket of Jacksonville. It features rear-loading capabilities in a fully air-conditioned warehouse space, a rare and coveted building feature in the Jacksonville industrial market.
4150 Perimeter Industrial Pkwy is located adjacent to Jacksonville’s Beltway, I-295 and within minutes to I-10 and I-95. This strategic location provides convenient access to more than 70 million consumers and exceptional connectivity to the Jacksonville CSX Intermodal terminal and JaxPort, the second largest vehicle handling port in the U.S.
The JLL Capital Markets Investment Sales and Advisory team was led by Senior Managing Director John Huguenard, Managing Director Luis Castillo, Director Cody Brais, Executive Managing Director Luke Pope, Analyst Taylor Osborne and Associate Wells Waller.
“Much like other East Coast port markets, Jacksonville has been on a tear recently and we continue to see deep investor interest for industrial opportunities there,” said Castillo. “This sale represents our team’s 5th transaction in that market over the last 12 months and we expect to see more activity as fundamentals continue to exceed expectations.
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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For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $20.9 billion and operations in over 80 countries around the world, our more than 103,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.