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Merritt Properties buys 537,800-square-foot Jacksonville light industrial park
The 11-building Center Point Business Park is 99% leased to 35 tenants, according to the transaction details.
ConnectCRE reports that Merritt Properties has acquired Center Point Business Park, an 11-building, 537,800-square-foot light industrial property in Jacksonville’s Butler Corridor.
The deal marks the first major transaction announced since Merritt secured a $750 million investment led by Centerbridge Partners to support its long-term growth strategy, and the seller was Plymouth REIT.
The park is 99% leased to 35 tenants across a range of industries. Its facilities include 18- to 22-foot clear heights, rear-load configurations, dock-high loading in most suites, concrete tilt-wall construction, 107 dock doors, and 1,005 parking spaces.
ConnectCRE also notes that Royce Rose and Justin Rabin of CBRE National Partners represented the seller. Center Point Business Park is located at 4801-6631 Executive Park Court, about 1.2 miles from Interstate 95 and half a mile from the Florida East Coast Railway.