Two New York-based firms swapped ownership of the Saddle Creek Logistics warehouse in South Jacksonville.

The warehouse at 12751 W. Gran Bay Parkway sold for $27.18 million Aug. 15 to Redfearn Capital, a private equity commercial real estate firm.

The 22.3-acre property, which includes 363,000-square-foot warehouse, is fully leased to Saddle Creek Logistics, an omnichannel, integrated supply chain company.

Constructed in 1997, the facility boasts 24-foot clear heights and 30 dock doors. The acquisition of this asset from Brookfield Properties adds to Redfearn’s expanding portfolio in the Southeast. Eastdil Secured represented Redfearn in the transaction.

“Expanding our presence in Jacksonville is a key strategic move for Redfearn as we continue to build a robust portfolio in one of the Southeast’s most dynamic logistics hubs,” said Alex Redfearn, Redfearn Capital founder and CEO, in a release. “This acquisition not only enhances our footprint in the region but also aligns with our long-term vision of investing in high-quality assets that drive value for our investors.”

This latest acquisition brings Redfearn Capital’s industrial holdings in the region to over 4.5 million square feet. Since its inception, the firm has closed on 67 properties throughout Florida and the Southeast, with total acquisitions exceeding $700 million.

New York-based Brookfield Properties, through G&I IX 12751 Gran Bay LLC, acquired the property in 2017 for $17.49 million.

In a strategic move to broaden its already substantial industrial property portfolio, Redfearn Capital, a Delray Beach-headquartered private equity firm with a keen eye for real estate ventures, recently sealed the deal on two industrial properties in Florida for a combined total of $7.15 million.

The first acquisition is a versatile multi-tenant warehouse located at 8330 Currency Drive in Riviera Beach, Florida. This property boasts 17,680 square feet of space and occupies a 2.5-acre plot in the Central Industrial Park North. Built in 2003, the facility is designed with practicality in mind, featuring glass front doors leading into modest office spaces, private restrooms, and sizable 12’ x 12’ overhead doors, all under an 18’ clear ceiling. The transaction was facilitated by Douglas Mandel and Zach Levine of Marcus & Millichap, representing the seller, CURRENCY DRIVE PROP OWNER LLC.

The second property, a sizable industrial distribution center in Pompano Beach, sits at 2171 Blount Road within the confines of Turnpike Industrial Park. Constructed in 1988, this 21,000-square-foot building is positioned on 3 acres. Redfearn Capital initially engaged with the property as a vacant building. However, through diligent evaluation, they successfully negotiated a long-term lease with ABC Supply Co., a tenant already within Redfearn’s investment circle, before finalizing the purchase. The seller, FUHR PROPERTIES LLC, was represented by Les Byron from SVN Commercial Realty.

Alex Redfearn, the Principal at Redfearn Capital, expressed enthusiasm about expanding their presence in Riviera Beach and Pompano Beach, areas where they have established investments. He highlighted the firm’s proactive approach in seeking industrial investments in the Southeast, particularly in the current climate of rising interest rates.

Redfearn Capital’s portfolio is impressive, encompassing over 1.5 million square feet of industrial space across Palm Beach and Broward Counties. Their track record includes 55 property acquisitions throughout Florida and the Southeast, amounting to over $600 million.

Redfearn himself emphasized the company’s commitment to integrity and excellence, even in challenging market conditions, as a distinguishing factor in the industry.

Redfearn Capital LLC specializes in private equity commercial real estate investments, managing assets worth more than $600 million and covering over 4.0 million square feet, with a concentrated interest in industrial properties across the Southeast. The firm is recognized for its strong tenant and broker relations, propelled by an in-house property management team and seasoned investment experts. They continue to target prime real estate opportunities in the Southeastern U.S., building a robust portfolio and solidifying their market position. For further information, Redfearn Capital’s insights and endeavors can be explored at their website, www.redfearncapital.com.

Delray Beach-based Redfearn Capital, a private equity commercial real estate company that targets value add, distressed and opportunistic investment opportunities, acquired two Florida industrial assets for $18,860,000.

The first property, located at 1485 Rail Head Blvd in Naples Florida, was acquired for $16,000,000. The 105,000-square-foot property is situated on 7 acres within Naples Core Industrial Park surrounded by corporate neighbors including ABC Supply, Safelite Glass, and Public Storage, and within close proximity to many retail and residential areas. The building was constructed in 1997 and features clear heights of 28’, ten dock-high and nine grade-level doors. The building currently consists of five tenants who have an average tenure of 18+ years, including FedEx, Sherwin Williams, Florida Water Products, Wilson Lighting of Naples and Goodcat Laboratories.

The second property, an industrial distribution facility in West Palm Beach, is located at 3595 Fiscal Ct in West Palm Beach, Florida, and totals 21,826 square feet. Built in 1986, the property is zoned for industrial warehouse and features 22’ clear heights. 3595 Fiscal Court is located right off Blue Heron Boulevard and I-95, allowing convenient access to US 1 via Investment Lane and Palm Beach Gardens to the west. This well-situated industrial corridor is shared with national tenants including FedEx, Sherwin Williams, and L&W Supply. Redfearn Capital acquired the West Palm Beach facility for $2,860,000 in April.

“We are excited to expand our portfolio in both Naples and West Palm Beach,” commented Alex Redfearn, Principal of Redfearn Capital. “We continue to target industrial assets at an attractive basis throughout Florida and the Southeast. The Naples industrial asset is our first acquisition in the rapidly growing Collier County. Redfearn Capital continues to acquire functional real estate at attractive basis off market.”

The acquisitions come after Redfearn Capital’s acquisition in March 2023 of a 138,200-square-foot property situated on 10.8 acres located at 201 Busch Drive, within Imeson Industrial Park in Jacksonville, Florida, and an industrial outdoor storage (IOS) facility located at 1595 SW 4th Ave in Delray Beach, Florida.

“In addition to our new industrial asset in West Palm Beach, we’re thrilled to add our first Naples asset to our portfolio,” added Joseph Pasquale, Chief Investment Officer. “We now have acquired over 50 industrial properties in our portfolio across over 3.5 million square feet and our team looks forward to acquiring more well-located assets in our portfolio.”

Delray Beach-based Redfearn Capital, a private equity commercial real estate company that targets value add, distressed and opportunistic investment opportunities, acquired two Florida industrial assets for $18,860,000.

The first property, 201 Busch Drive in Jacksonville, Florida, was acquired from 201 BUSCH PARTNERS LLC for $14,350,000. The 138,200-square-foot property is situated on 10.8 acres within Imeson Industrial Park, one of Jacksonville’s most sought-after industrial pockets, surrounded by corporate neighbors including Amazon, Samsonite, Kroger, and Bacardi, and within close proximity to Jacksonville International Airport and Jacksonville Port. The warehouse features 32 dock doors, one grade level door and 24’ clear heights. The Class B property was built in 1993. Renovations in 2022 included office renovations, a new roof, new warehouse lighting, a new fire alarm system, new dock doors, new electrical and paint. The transaction closed March 30. The single-tenant facility is occupied by Wing Industries.

Located just one mile away from I-95 and two miles from the I-95/I-295 Interchange, over 61 million consumers can be reached within an eight-hour drive from 201 Busch Drive.

The second property, an Industrial Outdoor Storage (IOS) facility, is located at 1595 SW 4th Ave in Delray Beach, Florida, totals 13,790 square feet with almost 2 acres of outdoor storage. Built in 1985, the property is zoned for industrial outdoor storage. Redfearn Capital paid $4,510,000 to APS REAL ESTATE INC for the asset. The transaction also closed March 30. Assurance Power Systems, a full-scale generator service provider, occupies the property.

“We are excited to expand our portfolio in both Jacksonville and Delray Beach,” commented Alex Redfearn, Principal of Redfearn Capital. “We continue to target industrial assets at an attractive basis throughout Florida and the Southeast. The Delray Beach asset is our first Industrial Outdoor Storage (IOS) property in the RC portfolio, we’re excited to expand into that growing asset class.”

“In addition to our new IOS property in Delray Beach, we’re thrilled to add another strategic Jacksonville Industrial asset to our portfolio,” added Joseph Pasquale, Chief Investment Officer. “We now own over 600,000 square feet in Jacksonville and look forward to acquiring additional industrial assets in this market.”

Delray Beach-based Redfearn Capital, a private equity commercial real estate company that targets value add, distressed and opportunistic investment opportunities, acquired a 58,000-square-feet industrial park located at 440 Tall Pines Road in West Palm Beach, Florida.

Built in 2003, the park is comprised of 24 small industrial units situated on 5.10 acres featuring 18-foot clear heights and 24-12×12 grade level loading doors.

Redfearn Capital paid $10 million for the asset. The transaction closed Tuesday, January 17.

“We have been tracking this property for several years and we’re excited to finally add this asset to our existing portfolio,” commented Alex Redfearn, Principal of Redfearn Capital.

“Despite challenging market conditions, the area’s overall growth has kept small bay industrial in high demand,” added Redfearn Capital CIO Joseph Pasquale, Chief Investment Officer. “Guided by market knowledge, analytics, and discipline, 440 Tall Pines met our criteria for expanding our Southeast industrial portfolio.”

Tall Pines Industrial Park is located near the intersection of Southern Blvd. and Jog Road, just East of Florida’s Turnpike with easy access to I-95.