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4801 Executive Park Ct

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

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

4801 Executive Park Ct & 6631 Executive Park Court North

$89,800,000

$83/SF

Building Size

1,075,600 SF

Asset Type

Industrial

Closing

Jul 23, 2026

AI

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.

Players

CBRE
CBREBrokerage

Robb Merritt

Merritt Properties

Buyer

$89.8M

vol

1 deal

Buyer

Jeff Witherell

Plymouth Industrial REIT

Seller

$109.7M

vol

2 deals

Seller

Jacksonville Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.18%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93