Investment firm Stonepeak acquired nine logistics properties totaling 1.8 million square feet near the Port of Jacksonville. JLL served as Stonepeak’s financial advisor. The port has been the site of several recent transactions. In August, Redfearn Capital acquired a 363,000-square-foot warehouse, Gran Bay Parkway, at 12751 Grand Bay Parkway in Jacksonville from Brookfield for $27 million.
Redfearn shared that the port is investing more than $1 billion over the next five years to improve access and utilization of this critical transport infrastructure, which lifts 1.3 million 20-foot equivalent units (TEUs) annually. CSX, Norfolk Southern and the Florida East Coast Railway are key railroad infrastructure support systems for the port’s traffic.
Stonepeak, meanwhile, acquired two logistics assets totaling 1.1 million square feet in Fort Worth, from institutional investors advised by J.P. Morgan Asset Management. The company used a $57 million loan from PGIM Real Estate for the acquisition.
