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JV sells 8-building Jacksonville industrial portfolio for $35M

The 230,000-square-foot Airport Jax Small Bay portfolio was 92% leased at sale and sits in Jacksonville’s Northside submarket near I-95 and Jacksonville International Airport.

Reported · Written up by our desk · Industrial & Land

ConnectCRE reports that a joint venture between East Capital Partners and Tranview Capital sold an eight-building, multitenant industrial portfolio for $35 million.

The asset, known as the Airport Jax Small Bay Portfolio, totals 230,000 square feet and was 92% leased at the time of the transaction.

The portfolio, located at 14475 Duval Place West in Jacksonville’s Northside industrial submarket, includes a mix of 45 tenants across multiple industries, and the seller said it will be rebranded as InSpace at Jax.

CBRE’s Kyle Fisher and Kyle Murphy represented the sellers, with NorthBridge Partners serving as the buyer, and the deal highlighted investor interest in Jacksonville’s industrial market as leasing and absorption figures improved in the Northside during the second quarter, according to ConnectCRE.

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