Kissimmee Land Company, a Fort Family Investments partnership, paid $25.3m for the Interstate South Commerce Center in Jacksonville’s Southside industrial submarket. The seller was Graham Commercial Properties. The 260,272 sq ft light industrial complex is currently 88 percent leased to 31 tenants, including Lennar, Honeywell, Dal-Tile and Lincare. Built between 1986 and 1989, the facility consists of six small-bay, rear-load dock-high buildings. Cushman & Wakefield Capital Markets Team represented the seller during the transaction.
“Today’s more sophisticated light industrial tenants are looking for highly functional space with both showroom and warehouse capabilities, as well as ease of access. This changing dynamic has created a strong demand for light industrial buildings like Interstate South Commerce Center, which will position this property for future rent growth,” said Karl Johnston, senior director at Cushman & Wakefield.
