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CIP Real Estate secured $44.6 million in acquisition financing from New York Life for the JAX Airport Logistics Center in Jacksonville, Florida. CIP recently acquired the property directly from its developer, Pan American Co., for $51.6 million.
Cushman & Wakefield’s Jason Hochman and Ron Granite represented CIP Real Estate in its transaction with New York Life.
Located at 14825 International Blvd. near Jacksonville International Airport, JAX Airport Logistics Center is a newly built, state-of-the-art Class A logistics park with two buildings totaling 425,000 square feet.
Situated in the heart of Jacksonville’s Northside submarket, the property benefits from proximity to Jacksonville International Airport and major transportation corridors including I-95, I-295 and I-10. The buildings are divisible to unit sizes ranging from 25,000 to 225,000 square feet with 250-foot depths and feature spec office suites ready for occupancy, 32-foot clear height, 115 dock-high doors, ESFR sprinklers and excess trailer parking.
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