Link Logistics Sells Jacksonville Asset for $31M

4150 Perimeter Industrial Parkway W. Image courtesy of JLL

Link Logistics has sold a 260,000-square-foot distribution center in Jacksonville, Fla., for $31.1 million, according to Duval County public records. The same source shows that Sterling Investors is the new owner of the Class A asset. Global Atlantic Financial Group provided a $22.2 million acquisition loan for the buyer.

JLL’s Capital Markets Investment Sales and Advisory team of Executive Managing Director Luke Pope, Senior Managing Director John Huguenard, Managing Director Luis Castillo, Director Cody Brais, with the assistance of Analyst Taylor Osborne and Associate Wells Waller, has made arrangements on behalf of the seller.

This is the JLL team’s fifth transaction in the Jacksonville area in the past 12 months, according to Castillo. In January last year, VanTrust Real Estate, assisted by JLL, sold an Amazon-occupied facility for $103.5 million, part of a 156-acre industrial campus.

A fully occupied industrial asset

Located at 4150 Perimeter Industrial Parkway W. on a 15.3-acre lot within Perimeter West Industrial Park, the one-story property is fully occupied by Volkswagen Group of America. Its features include ESFR sprinkler systems, 30-foot clear heights, HVAC systems, dock levelers and bumpers, a 155-foot truck court and 156 parking spots, according to CommercialEdge data.

The distribution center is close to multiple interstates, as well as to CSX Intermodal Terminal, 8 miles from downtown Jacksonville and within 12 miles of Jacksonville International Airport. Nearby major thoroughfares include interstates 295, 95 and 10.