JACKSONVILLE, FL., – April 20, 2021 – NAI Hallmark, a leading commercial real estate brokerage and property management firm in Jacksonville, announced they have represented Faropoint in the purchase of a 24,000 SF industrial distribution facility located at 6959 Stuart Avenue, Jacksonville, FL 32254 (the “Property”). Senior Vice President Daniel Burkhardt, SIOR, CCIM, MSRE and Jason J. Purdy, MBA represented Faropoint in the acquisition, which closed for $1,450,000. The seller, JRVJ, was represented by Larry Walshaw of KW Commercial.
“Faropoint has acquired over $600 million in industrial real estate across the United States and has identified Jacksonville as a target market to expand their portfolio,” said Senior Vice President Daniel Burkhart of NAI Hallmark. “We look forward to working with them on additional acquisitions in our market.”
“Faropoint’s acquisition is another example of the growth and strength of the Jacksonville industrial market,” added Vice President Jason Purdy of NAI Hallmark. “Jacksonville continues to attract investments from global investors that previously looked to larger markets for better returns.”
“This deal marks our first acquisition in Florida and demonstrates our conviction in Jacksonville and the southern I-95 corridor as a strategic location for distribution across the Southeast. We are excited to enter the market with the acquisition of this asset and look forward to growing our portfolio in Florida. we plan to acquire $50 million worth of industrial properties in Jacksonville during 2021”, says Vadim Greenberg who is acting as head of acquisition at Faropoint.
The single-tenant property is comprised of a 24,000 square foot industrial distribution facility and is 100% occupied by ACOUSTI Engineering of Florida. The asset is located in the Westside submarket of Jacksonville with easy access to the I-10 / I-295 interchange.
For more information regarding the acquisition of 6959 Stuart Avenue in Jacksonville, Florida, or any questions relating to investment sales, please contact NAI Hallmark at +1 904 363 9002.
