Southpoint industrial property purchased for $6.7 million - Jacksonville Business Journal

An industrial multi-tenant Southpoint property has been purchased for $6.7 million, a sign of the continuing demand for industrial space on the First Coast.The property is located between Philips Highway and I-95, near The Bolles School and St. Vincent’s Ascension Southside Hospital.The building was built in 1969. It was bought in 2014 for $

825,000 from First Atlantic Bank, which had foreclosed on the property earlier that year. The previous sale wasCurrent tenants of the fully leased property include Epsilon Systems Solutions and various automotive-related tenants. The property was renovated in 2017. The sale was brokered by Tyler Saldutti of Prime Realty. He said the sale showed the resiliency of interest in regional industrial properties despite high interest rates.

“We were glad to see that the transaction held together in a rising interest rate environment,” Saldutti said. “The demand in owning industrial is strong to survive the turmoil of capital markets.”

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Jacksonville company picks up 172,400 acres of land across the South - Jacksonville Business JournalThe purchase was announced as Rayonier unveiled its third-quarter earnings.
Source: JaxBizJournal - 🏆 599. / 51 Read more »

Beacon Roofing Supply buys Jacksonville waterproofing supplier - Jacksonville Business JournalRead about a Jacksonville-based waterproofing supply company's acquisition by a publicly traded roofing supply company.
Source: JaxBizJournal - 🏆 599. / 51 Read more »

JEA headquarters has new owner, but the Jacksonville utility expects no changes - Jacksonville Business JournalRyan Companies, which developed the building, recently sold it to a real estate firm.
Source: JaxBizJournal - 🏆 599. / 51 Read more »

JEA headquarters has new owner, but the Jacksonville utility expects no changes - Jacksonville Business JournalRyan Companies, which developed the building, recently sold it to a real estate firm.
Source: JaxBizJournal - 🏆 599. / 51 Read more »

From BDUs to suits: Celebrating Veterans Small Business Week - Jacksonville Business JournalThe SBA has a number of programs to help those transitioning from the military to entrepreneurship.
Source: JaxBizJournal - 🏆 599. / 51 Read more »