{"id":1004722514,"date":"2024-07-23T04:21:00","date_gmt":"2024-07-23T12:21:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004722514"},"modified":"2024-08-13T01:36:20","modified_gmt":"2024-08-13T09:36:20","slug":"indus-realty-trust-buys-industrial-facility-in-jacksonville","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/indus-realty-trust-buys-industrial-facility-in-jacksonville\/","title":{"rendered":"INDUS Realty Trust Buys Industrial Facility in Jacksonville"},"content":{"rendered":"
\n
\"The<\/a>
The 550,243-square-foot facility marks Primark\u2019s second distribution center in the U.S. Image courtesy of JLL<\/em><\/figcaption><\/figure><\/div>\n\n\n

VanTrust Real Estate has sold Primark at Imeson Park, a recently completed 550,243-square-foot facility in Jacksonville, Fla. INDUS Realty Trust acquired the asset, which is fully leased to Primark<\/a>.<\/p>\n\n\n\n

This is Primark\u2019s second distribution center in the U.S. and the first in Florida, with products arriving through JaxPort. The company’s other distribution center is a 677,080-square-foot facility in Bethlehem, Pa.<\/p>\n\n\n\n

JLL brokered the deal on behalf of the seller. VanTrust broke ground on the project in 2022, using a $37 million construction loan originated by JPMorgan Chase in June that same year, CommercialEdge information shows.<\/p>\n\n\n\n

\n\n\n\n

READ ALSO:<\/strong> Is the Multistory Industrial Niche Taking Off?<\/a><\/p>\n\n\n\n

\n\n\n\n

The building is part of Imeson Park South, a 215-acre logistics park that will measure about 3 million square feet upon full build-out. Four buildings are already completed, with three additional ones coming soon.<\/p>\n\n\n\n

The distribution center features 40-foot clear heights, 99 dock-high loading doors, four drive-in doors and 175 trailer parking stalls. Additionally, the cross-dock building has more than 200 parking spaces.<\/p>\n\n\n\n

The 33-acre property is at 1511 Zoo Parkway, less than 9 miles from downtown Jacksonville. Jacksonville International Airport is within about 10 miles from the property, while The JaxPort is 7 miles southwest.<\/p>\n\n\n\n

JLL Capital Markets Investment Sales and Advisory Senior Managing Director John Huguenard, Managing Director Luis Castillo, Senior Director Cody Brais and Associate Taylor Osborne represented the seller in the transaction.<\/p>\n\n\n\n

Jacksonville\u2019s industrial sector faces challenges<\/h2>\n\n\n\n

Jacksonville\u2019s industrial sector during the second quarter of this year saw a 210-basis-point increase in overall vacancy year-over-year, rising to 5.0 percent, according to a Cushman & Wakefield market report. Additionally, more than 1.5 million square feet were completed in the first half of the year, representing a 43.3 percent drop from the same period in 2023.<\/p>\n\n\n\n

Last month, Bixby Capital Management acquired two industrial facilities<\/a> in Jacksonville for $53.5 million through Bixby Land Co. Link Logistics sold the properties.<\/p>\n\n\n\n

Earlier this year, a joint venture between Redfearn Capital and TPG Angelo Gordon purchased a Jacksonville portfolio for $47.8 million<\/a>. Somerset Properties and CenterSquare Investment Management sold the eight buildings totaling 380,589 square feet.<\/p>\n","protected":false},"excerpt":{"rendered":"

European retailer Primark fully leases the property, which is its second distribution center in the U.S.<\/p>\n","protected":false},"author":3355,"featured_media":1004722515,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,1591,21742,32781],"tags":[32796,46211,33102],"class_list":["post-1004722514","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-jacksonville","category-latest","category-southeast","tag-jll","tag-primark","tag-vantrust-real-estate"],"acf":[],"yoast_head":"\nINDUS Realty Trust Buys Industrial Facility in Jacksonville - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"VanTrust Real Estate sold a Jacksonville, Fla., facility to INDUS Realty Trust. The property is fully leased to Primark.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/indus-realty-trust-buys-industrial-facility-in-jacksonville\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"INDUS Realty Trust Buys Industrial Facility in Jacksonville\" \/>\n<meta property=\"og:description\" content=\"VanTrust Real Estate sold a Jacksonville, Fla., facility to INDUS Realty Trust. The property is fully leased to Primark.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/indus-realty-trust-buys-industrial-facility-in-jacksonville\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-23T12:21:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-08-13T09:36:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Primark-at-Imeson-Park_JLL.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"750\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Vicentiu Fusea\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/indus-realty-trust-buys-industrial-facility-in-jacksonville\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/indus-realty-trust-buys-industrial-facility-in-jacksonville\/\",\"name\":\"INDUS Realty Trust Buys Industrial Facility in Jacksonville - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/indus-realty-trust-buys-industrial-facility-in-jacksonville\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/indus-realty-trust-buys-industrial-facility-in-jacksonville\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Primark-at-Imeson-Park_JLL.jpg\",\"datePublished\":\"2024-07-23T12:21:00+00:00\",\"dateModified\":\"2024-08-13T09:36:20+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6f90c90d1e85956f06679ddabc844412\"},\"description\":\"VanTrust Real Estate sold a Jacksonville, Fla., facility to INDUS Realty Trust. The property is fully leased to Primark.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/indus-realty-trust-buys-industrial-facility-in-jacksonville\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/indus-realty-trust-buys-industrial-facility-in-jacksonville\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/indus-realty-trust-buys-industrial-facility-in-jacksonville\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Primark-at-Imeson-Park_JLL.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Primark-at-Imeson-Park_JLL.jpg\",\"width\":1000,\"height\":750,\"caption\":\"The 550,243-square-foot facility marks Primark\u2019s second distribution center in the U.S. Image courtesy of JLL\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/indus-realty-trust-buys-industrial-facility-in-jacksonville\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"INDUS Realty Trust Buys Industrial Facility in Jacksonville\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6f90c90d1e85956f06679ddabc844412\",\"name\":\"Vicentiu Fusea\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ccbed048a87c0b87e81af2c30e2684f6fa8c0d2e617f452b15c76e47efd445f8?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/ccbed048a87c0b87e81af2c30e2684f6fa8c0d2e617f452b15c76e47efd445f8?s=96&d=mm&r=g\",\"caption\":\"Vicentiu Fusea\"},\"description\":\"Vicentiu Fusea is an associate editor with Commercial Property Executive and Multi-Housing News. He has joined the CPE-MHN team in 2023. Vicentiu writes stories mainly focusing on the student housing, office and MOB markets. You can reach out to him at vicentiu.fusea@cpe-mhn.com.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/vicentiu-fusea\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"INDUS Realty Trust Buys Industrial Facility in Jacksonville - Commercial Property Executive","description":"VanTrust Real Estate sold a Jacksonville, Fla., facility to INDUS Realty Trust. The property is fully leased to Primark.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/indus-realty-trust-buys-industrial-facility-in-jacksonville\/","og_locale":"en_US","og_type":"article","og_title":"INDUS Realty Trust Buys Industrial Facility in Jacksonville","og_description":"VanTrust Real Estate sold a Jacksonville, Fla., facility to INDUS Realty Trust. The property is fully leased to Primark.","og_url":"https:\/\/www.commercialsearch.com\/news\/indus-realty-trust-buys-industrial-facility-in-jacksonville\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2024-07-23T12:21:00+00:00","article_modified_time":"2024-08-13T09:36:20+00:00","og_image":[{"width":1000,"height":750,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Primark-at-Imeson-Park_JLL.jpg","type":"image\/jpeg"}],"author":"Vicentiu Fusea","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/indus-realty-trust-buys-industrial-facility-in-jacksonville\/","url":"https:\/\/www.commercialsearch.com\/news\/indus-realty-trust-buys-industrial-facility-in-jacksonville\/","name":"INDUS Realty Trust Buys Industrial Facility in Jacksonville - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/indus-realty-trust-buys-industrial-facility-in-jacksonville\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/indus-realty-trust-buys-industrial-facility-in-jacksonville\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Primark-at-Imeson-Park_JLL.jpg","datePublished":"2024-07-23T12:21:00+00:00","dateModified":"2024-08-13T09:36:20+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6f90c90d1e85956f06679ddabc844412"},"description":"VanTrust Real Estate sold a Jacksonville, Fla., facility to INDUS Realty Trust. The property is fully leased to Primark.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/indus-realty-trust-buys-industrial-facility-in-jacksonville\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/indus-realty-trust-buys-industrial-facility-in-jacksonville\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/indus-realty-trust-buys-industrial-facility-in-jacksonville\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Primark-at-Imeson-Park_JLL.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Primark-at-Imeson-Park_JLL.jpg","width":1000,"height":750,"caption":"The 550,243-square-foot facility marks Primark\u2019s second distribution center in the U.S. Image courtesy of JLL"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/indus-realty-trust-buys-industrial-facility-in-jacksonville\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"INDUS Realty Trust Buys Industrial Facility in Jacksonville"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6f90c90d1e85956f06679ddabc844412","name":"Vicentiu Fusea","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/ccbed048a87c0b87e81af2c30e2684f6fa8c0d2e617f452b15c76e47efd445f8?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ccbed048a87c0b87e81af2c30e2684f6fa8c0d2e617f452b15c76e47efd445f8?s=96&d=mm&r=g","caption":"Vicentiu Fusea"},"description":"Vicentiu Fusea is an associate editor with Commercial Property Executive and Multi-Housing News. He has joined the CPE-MHN team in 2023. Vicentiu writes stories mainly focusing on the student housing, office and MOB markets. You can reach out to him at vicentiu.fusea@cpe-mhn.com.","url":"https:\/\/www.commercialsearch.com\/news\/author\/vicentiu-fusea\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Primark-at-Imeson-Park_JLL.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004722514","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/3355"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004722514"}],"version-history":[{"count":7,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004722514\/revisions"}],"predecessor-version":[{"id":1004725240,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004722514\/revisions\/1004725240"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004722515"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004722514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004722514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004722514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}