Redfearn Capital Acquires Industrial Property In Jacksonville FL For $62.65M

The industrial property located at 5515 W 5th St, Jacksonville FL, has been sold in a closed transaction. The property spans a total of 516,044 square feet and is situated in the Central FL/North FL market. The sale took place on 10/01/2021.

Summary of transation details

• Property Type: Industrial
• Transaction Amount: $62,650,000
• Price per Square Foot: $121
• Buyer: Redfearn Capital - Alex Redfearn
• Seller: The Federated Companies
• Brokers: Tyler S. Kuhlman & Douglas K. Mandel - Marcus & Millichap

The buyer of the property is Redfearn Capital represented by Alex Redfearn. The seller is The Federated Companies. The transaction was facilitated by brokers Tyler S. Kuhlman and Douglas K. Mandel of Marcus & Millichap. The asking price and the sale price for the property were both $62,650,000, resulting in a price per square foot of $121.

This transaction exemplifies the ongoing demand for industrial space in Florida. The COVID-19 pandemic has significantly impacted logistics and consumer behavior, leading to increased demand for industrial properties. Tyler S. Kuhlman noted, "The COVID-19 health crisis transformed logistics and consumer behavior, igniting a rise in demand for Industrial Space."