Article originally posted on costar.com
Brookfield Properties Sells Jacksonville Warehouse Just Over a Month After Acquiring It
Redfearn Capital, a private equity commercial real estate firm based in Delray Beach, Florida, is pleased to announce its recent acquisition of a fully leased warehouse in Jacksonville, Florida. This acquisition was made possible through a strategic partnership with TPG Angelo Gordon, marking another significant milestone in our ongoing collaboration with the New York-based asset manager.
The warehouse, located at 12751 Gran Bay Parkway, spans 363,000 square feet and is fully leased to Saddle Creek Logistics, an omnichannel, integrated supply chain company headquartered in Lakeland, Florida. The property was acquired for $27.175 million, further enhancing Redfearn Capital’s portfolio in one of the Southeast’s most dynamic logistics hubs.
Brookfield Properties, the previous owner, sold the property to Redfearn Capital and TPG Angelo Gordon just over a month after acquiring it as part of a $1.3 billion portfolio deal. This acquisition underscores our commitment to expanding our presence in key logistics markets across the region.
“Jacksonville has long been recognized as one of Florida’s premier logistics hubs,” said Alex Redfearn, CEO of Redfearn Capital. “With the city’s strategic location and robust infrastructure, including JAXPORT and CSX, we see tremendous potential for continued growth in this market.”
This transaction is the latest in a series of acquisitions by Redfearn Capital and TPG Angelo Gordon, following their purchase of an eight-building industrial portfolio in Jacksonville earlier this year. With this latest acquisition, Redfearn Capital’s portfolio now totals over 4.5 million square feet, spanning 67 properties across Florida and the broader Southeastern United States since the company’s inception in 2014.
As highlighted in a recent CoStar report, Jacksonville’s industrial market continues to experience strong demand, with a vacancy rate of just 4.4% and annual rent growth of 6.9%, significantly outpacing the national average. These market dynamics make Jacksonville a key area of focus for Redfearn Capital as we continue to identify and acquire high-quality assets in strategic locations.
