Adir Levitas Of Faropoint Acquires Industrial Property From Edmund Cheng Of Mapletree Industrial Trust For $15M

The property asset involved in this transaction is a 12.67-acre industrial site located at 10475 Fortune Parkway in Jacksonville. The property includes two buildings constructed in 1992, and features a total square footage of 112,397. The sale price for this asset was $15,000,000, resulting in a price per square foot of $133.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $15,000,000
• Buyer: Adir Levitas - Faropoint
• Seller: Edmund Cheng - Mapletree Industrial Trust
• Market: Jacksonville
• Acres: 12.67
• Square Footage: 112,397
• Price per Square Foot: $133

Adir Levitas represented Faropoint in the acquisition of the property, while Edmund Cheng represented Mapletree Industrial Trust in the sale. The deal marks a 62% gain from Faropoint's previous acquisition of the site for $9.28 million less than a year prior, with tenants including natural stone importer Quality Stones.