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
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