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Jones Lang LaSalle, Inc. (“JLL”) has been retained as the exclusive sales representative for Magnolia Park (“The Property”) – an 86% leased, 3-building, 80,863 square foot small-bay light industrial park located within the dynamic Southside Jacksonville, FL industrial market. Situated along Shad Rd., less than two miles from the major transportation and logistical thoroughfares of Philips Highway (US-1) and I-95, the Property is centrally located within the Butler Corridor submarket – one of Jacksonville’s best performing industrial submarkets. Over the last 5 years the submarket has experienced rent growth of more than 32% (6.5% CAGR) and an average vacancy rate of 5% over that same period. Geographically, the Property is proximate to Jacksonville’s densest, most affluent, and fastest-growing population nodes. This exceptionally well-located asset presents an attractive going-in cost basis with durable cash flows, nearly 5 years of weighted average lease term remaining, within a high rent growth, infill submarket.
- Rare opportunity to acquire three early-2000’s vintage shallow-bay light industrial warehouses in the fast-growing Jacksonville MSA that are currently 86% leased with 4.9 years of WALT, offering both immediate cash flow and upside potential through further lease up.
- Differentiated site plan featuring two grade-level facilities and one dock-high warehouse allowing investors to attract a variety of tenant types.
- Ideal location within the Mandarin submarket, Jacksonville’s largest suburban employment hub, where small bay, light industrial product is in high demand to serve the needs of the surrounding businesses.
- Opportunity to add significant value by leasing up one bay totaling 11,607 square feet within building 400, which the landlord recently took possession of. This bay may be further demised to accommodate two smaller tenants and suites.
- Excellent transportation dynamics with direct access to Philips Highway, one of Jacksonville’s main north/south commercial arterials, which runs straight through the city. Philips Highway links to both I-95 and the I-295 beltway access ramps just south of the buildings and to J. Turner Butler Boulevard to the north within a few minutes’ drive, giving its tenancy outstanding access to the overall Jacksonville MSA.