This report was updated July 24 with a CBRE announcement.
NorthBridge Partners LLC invested $35.1 million to buy Airport East Industrial Park in North Jacksonville.
A marketing brochure from commercial real estate firm CBRE refers to it now by a new brand, InSpace at Jax.
The CBRE commercial real estate group in Jacksonville handles leasing, led by First Vice President Kyle Fisher and associates Kyle Murphy and Alliah Hardee.
The Duval County Clerk of Courts recorded notices of two deeds July 22 for the Wakefield, Massachusetts-based group’s July 17 acquisition. The images of the deeds were not released as of 1 p.m. July 23.
The park comprises eight buildings and a storage area on 28.9 acres at 14476 Duval Place W. The park is west of Interstate 95 along Duval Road, east of Jacksonville International Airport.
CBRE announced July 24 that it represented the sellers, East Capital Partners and Tramview Capital Management, in the transaction. The team included CBRE Florida National Partners led by professionals José Lobón and Royce Rose of CBRE’s Miami office, along with Kyle Fisher and Kyle Murphy of CBRE’s Jacksonville office.
Duval County Property Appraiser records show the eight buildings were developed from 2001 to 2011. They total almost 231,200 square feet and range from 18,000 to 40,000 square feet in size.
Through NBPIV Jax Duval LLC, NorthBridge bought the property from Airport East Property LLC and Airport East Feeder LLC in two parcels comprising the buildings on 22.48 acres and the storage on 6.44 acres.
A 65,000-square-foot building had been planned as a ninth building but the permit expired, city building records show.
NorthBridge says on northbridgecre.com that it is a private real estate investment firm and operator focused on infill logistics and warehouse properties across the United States. It says it acquires, modernizes and manages small to midsize industrial assets near dense population centers, “where e-commerce, high-tech manufacturing, and last-mile delivery are driving long-term demand.”
Airport East Property LLC, a joint venture between East Capital Partners and Tramview Capital Management, paid $24.5 million in July 2023 for the small-bay warehouse distribution center.
For that deal, CBRE said at the time that Kyle Fisher was part of the team with CBRE Industrial & Logistics to represent the joint venture of East Capital Partners and Tramview Capital Management. CBRE was retained to market the property for lease.
East Capital Partners is based in Darien, Connecticut. Tramview Capital Management is based in Beachwood, Ohio. Both are real estate investment management firms.
The CBRE commercial real estate company says on a brochure that the units range from 2,250 to 15,000 square feet of space.