A Jacksonville industrial facility has been purchased by the Hans-Mill Corp. for $3 million. The 120,482 sqf property located on West First Street traded for just under $25 per sqf. The property features 7,151 sqf of office space, 11 dock doors, 20-foot ceiling heights, and a large truck court. The buyer is a New Jersey-based producer of kitchen ware and metal household goods. CBRE Industrial and Logistics arranged the sale of the property.
“Vacancy for industrial properties in Jacksonville continues to shrink, particularly for properties that can be purchased,” said CBRE First Vice President Bobby Gatling, who arranged the transaction on behalf of Hans-Mill Corp. “In light of constrained inventory, this deal is an especially great win for Jacksonville as the buyer’s opening of a manufacturing operation will result in many new jobs for the city and further solidifies Jacksonville as a viable option for manufacturing operations looking to relocate or expand into the Southeast U.S. due to favorable local and state incentives, skilled labor and cost of living.”
