Updated Dec 4, 2024
JAX-IMESON JV LLC Leases Industrial Property In Jacksonville, FL To RoadOne IntermodaLogistics
1000 Imeson Park Boulevard
Building Size
—
Asset Type
Industrial
Closing
Feb 15, 2024
About this deal
AI
The industrial property located at 1000 Imeson Park Boulevard in Jacksonville, FL, has been fully leased to RoadOne IntermodaLogistics. The Class A facility spans 422,136 sq ft and will undergo significant tenant improvements, including the addition of dock levelers, site fencing, a guard shack, and a 100,000 sq ft climate-controlled section. The enhancements are slated for completion by late summer/early fall 2024.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Landlord: Peter Gould, North Signal Capital LLC; Michael Gleason, Fox Capital Partners
- Tenant: Ken Kellaway & Chris Sloope, RoadOne IntermodaLogistics
- Broker: Luke Pope, JLL
JAX-IMESON JV LLC, a joint venture by North Signal Capital LLC and Fox Capital Partners, successfully secured the full-building lease with RoadOne IntermodaLogistics, marking the complete occupancy of the industrial property. The tenant, RoadOne, plans to implement various upgrades to tailor the space to their operational needs, ensuring a seamless and efficient workspace at the facility.
Players
Jacksonville Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93