Robb Merritt Of Merritt Properties Acquires Industrial Asset In Jacksonville From Jeff Witherell For $89.8M

The transaction involved an industrial property located at 4801-6631 Executive Park Court North in Jacksonville, FL. The asset is a part of Center Point Business Park, comprising 11 buildings with a total square footage of 537,800. The property was sold for $89,800,000, resulting in a price per square foot of $167. The business park is currently 99% leased and accommodates 35 tenants, providing direct access to Interstate 95 and the Florida East Coast Railway.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $89,800,000
• Address: 4801-6631 Executive Park Court North
• Market: Jacksonville, FL
• Square Footage: 537,800
• Price per Square Foot: $167
• Buyer: Robb Merritt - Merritt Properties
• Seller: Jeff Witherell - Plymouth Industrial REIT
• Broker: CBRE

Robb Merritt represented Merritt Properties in the acquisition, while Jeff Witherell represented Plymouth Industrial REIT in the sale. The transaction was facilitated by CBRE, highlighting their role in brokering the deal between the two entities.