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

5515 West 5th Street
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This Industrial property located in FL was sold for $62,650,000 over 2 years ago. The brokers of the deal were Tyler Kuhlman and Douglas (Doug) Mandel

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."

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Deals
  • Location
    5515 West 5th Street, Jacksonville, FL 322545515 West 5th Street, Jacksonville, FL 32254
  • Sale Price
    $62,650,000$62,650,000
    $121 PPSF$121 PPSF
  • Area
    516,044 SF516,044 SF
  • Asset Type
    IndustrialIndustrial
  • Parties
    2 Brokers, 1 Agency2 Brokers, 1 Agency

Agents

Tyler Kuhlman

Tyler Kuhlman

Deals31
Sold$514.4M

Agency

Marcus & Millichap

Marcus & Millichap

Agency
Deals6999
Volume$66B

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Deal Summary

SALE IMAGE: Tyler S. Kuhlman, Alex Redfearn & Douglas K. Mandel DATE: 10/01/2021 ADDRESS: 5515 W 5th St, Jacksonville FL MARKET: Central FL/North FL ASSET TYPE: Industrial BUYER: Redfearn Capital - Alex Redfearn SELLER: The Federated Companies BROKERS: Tyler S. Kuhlman (@TylerKuhlman_) & Douglas K. Mandel - Marcus & Millichap ASKING PRICE: $62,650,000 SALE PRICE: $62,650,000 SF: 516,044 ~ PPSF: $121 NOTE: This trade illustrates the continued demand for industrial space throughout the state of Florida. The COVID-19 health crisis transformed logistics and consumer behavior, igniting a rise in demand for Industrial Space,” said Tyler S. Kuhlman.

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5515 West 5th Street

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