Realterm Acquires Two Industrial Properties In Jacksonville For $9.4 Million With Colliers' Representation

The property asset involved in the transaction consists of two industrial outdoor storage properties located at 5703 Commonwealth Avenue and 1142 Peavy Road in Jacksonville, Florida. The total area is 12.1 acres, with a combined square footage of 24,500, and it was sold for $9,400,000. The properties are currently fully leased to Student Transportation of America, which includes maintenance facilities.

Summary of transation details:

• Property Type: Industrial
• Transaction Amount: $9,400,000
• Square Feet: 24,500
• Price Per Square Foot: $384
• Buyer: Bob Fordi - Realterm
• Broker Representatives: Jimmy Ullrich, Eric Bumgarner, Michael Macchia, Michael Cassidy & Gordon Olson - Colliers
• Market: Jacksonville, FL

This transaction was arranged by Colliers, showcasing the broker team's involvement in the acquisition process. The buyer, Bob Fordi, represents Realterm, while the brokers from Colliers played a critical role in facilitating the details of the deal.