Alterra Property Group Acquires 29-Acre ConGlobal Intermodal Depot In North Jacksonville For $15.63M
10470 Alta Drive
$15,630,000
Building Size
—
Asset Type
Industrial
Closing
Nov 13, 2023
AI
Alterra Property Group, a Philadelphia-based real estate investment firm, has acquired the 29-acre ConGlobal intermodal depot in North Jacksonville for $15.63 million. The property, located at 10458 Alta Drive, serves as a container depot affiliated with JaxPort shipping. The seller, ConGlobal Industries LLC, will continue to operate on-site with a long-term lease.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $15,630,000
- Address: 10458 Alta Drive, Jacksonville
- Market: Jacksonville
- Buyer: Alterra Property Group - Leo Addimando
- Seller: ConGlobal Industries LLC - Jeff Loucks
Alterra Property Group, represented by Leo Addimando, purchased the 29-acre ConGlobal intermodal depot from ConGlobal Industries LLC. The acquisition allows Alterra Property Group to expand its real estate investment portfolio in Jacksonville.
Jacksonville Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.01%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93