Sale of Primark at Imeson Park in Jacksonville, Florida closes
JLL Capital Markets facilitates the sale of a newly constructed 550K SF mission-critical distribution facility
MIAMI, July 22, 2024 – JLL Capital Markets announced today the sale of Primark at Imeson Park, a newly delivered 550,243-square-foot cross-dock industrial facility located within Jacksonville’s premier logistics park.
JLL represented the seller, VanTrust Real Estate, while INDUS Realty Trust acquired the property.
Built in 2024, the distribution center offers a state-of-the-art design, including 40-foot clear heights, 99 dock-high doors, four drive-in doors and 175 trailer parking stalls. The property is also fully leased to Primark, one of the largest clothing retailers in Europe, with the highest sales by volume in the U.K. and a growing presence in the U.S. This lease marks Primark’s second distribution center in the U.S. and first distribution center in Florida with products arriving through JaxPort.
The JLL Capital Markets Investment Sales and Advisory team was led by Senior Managing Director John Huguenard, Managing Director Luis Castillo, Senior Director Cody Brais and Associate Taylor Osborne.
"We are proud to have facilitated this deal on behalf of VanTrust Real Estate," said Huguenard. "Primark at Imeson Park presented a unique opportunity to acquire a newly constructed Class A industrial building in one of Jacksonville's strongest submarkets leased to a global retailer actively seeking to expand its presence in the United States."
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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About JLL
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 $20.8 billion and operations in over 80 countries around the world, our more than 108,000 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.
About VanTrust Real Estate
VanTrust Real Estate, LLC is a full-service real estate development company. The company acquires and develops real estate assets for the Van Tuyl family portfolio and offers a broad range of real estate services including acquisition, disposition, development, development services, corporate services, and asset enhancement. Product types include office, industrial, multifamily, mixed-use and science + technology. VanTrust works nationally with regional offices in Columbus, Dallas, Phoenix, Jacksonville and Salt Lake City with its headquarters in Kansas City, Missouri. For more information, visit www.vantrustre.com.
About INDUS Realty Trust
INDUS is a real estate business principally engaged in developing, acquiring, managing and leasing industrial/logistics properties. INDUS owns 49 industrial/logistics buildings totalling 7.8 million square feet in Connecticut, Pennsylvania, North Carolina, South Carolina, Tennessee, and Florida. INDUS is owned by affiliates of Centerbridge, GIC and ADIA.