Taurus Investments sold a 217,990 sq ft industrial park in Jacksonville, Florida, for $10.05m. Located in the city’s San Marco submarket, Central Park was built in 1989 and was roughly 50 percent leased at the time of sale. Marcus & Millichap’s represented the seller and secured the unnamed buyer. “Investor demand for industrial product remains very strong. We conducted a multi-round bidding process, which resulting in 16 competitive bids from a wide range of buyers. The deal traded for over 15 percent above the listed price, which further demonstrates the strong demand for industrial properties and the scarcity premium being paid by investors to secure assets,” said Douglas Mandel of Marcus & Millichap.
