{"id":385455,"date":"2026-08-30T18:18:11","date_gmt":"2026-08-30T18:18:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/385455\/"},"modified":"2026-08-30T18:18:11","modified_gmt":"2026-08-30T18:18:11","slug":"business-park-acquired-in-jacksonville-company-expands-local-footprint","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/385455\/","title":{"rendered":"Business Park Acquired in Jacksonville, Company Expands Local Footprint"},"content":{"rendered":"

A business park was acquired in Jacksonville, and the company nearly doubled its local footprint.<\/p>\n

Merritt Properties acquired Center Point Business Park, an 11-building, 537,800-square-foot light industrial park in Jacksonville\u2019s Butler Corridor, marking the largest acquisition in the company\u2019s history. The deal nearly doubled Merritt\u2019s Jacksonville footprint and was the first major transaction announced since the company secured a $750 million investment led by Centerbridge Partners to accelerate its long-term growth strategy.<\/p>\n

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With Center Point Business Park, Merritt\u2019s Jacksonville portfolio now totals approximately 1.13 million square feet across five business parks, including Imeson Landing Business Park, Merritt at Gate Parkway, Magnolia Park and Beach Commerce Center.<\/p>\n

Located at 4801-6631 Executive Park Court, the property is approximately 1.2 miles from Interstate 95 and one-half mile from the Florida East Coast Railway, providing last-mile connectivity throughout the market.<\/p>\n

\u201cThis acquisition is a defining moment for our company,\u201d said Bobby Lanigan, president of Merritt Properties. \u201cIt reflects our commitment to strengthening and diversifying our portfolio in strategic markets. Adding Center Point gives us meaningful scale in Jacksonville and enhances our ability to serve customers across the region.\u201d<\/p>\n

The park is 99% leased to 35 tenants representing a diverse mix of industries. The property features 18- to 22-foot clear heights, rear-load configurations, dock-high loading in most suites, concrete tilt-wall construction, 107 dock doors and 1,005 parking spaces. The average tenant occupies approximately 15,100 square feet.<\/p>\n

\u201cCenter Point Business Park is an outstanding addition to our Jacksonville portfolio,\u201d said Pat Franklin, regional director of Merritt Properties\u2019 Florida office. \u201cIts location, quality and diverse tenant base make it an excellent fit for Merritt. We look forward to building on the property\u2019s success through our hands-on approach to leasing, property management and ownership.\u201d<\/p>\n

In addition to its existing portfolio, Merritt owns land at Imeson Landing Business Park and Oakleaf Commerce Center, where future light industrial development is planned. Together, those projects could add approximately 269,400 square feet, further expanding the company\u2019s presence in Northeast Florida.<\/p>\n

Merritt Properties acquired Center Point from Plymouth REIT. Royce Rose and Justin Rabin of CBRE National Partners represented the seller in the transaction. Legal counsel for Merritt Properties was provided by Gunster, with Spencer Cummings and Cassidy Bergstrom leading the firm\u2019s representation.<\/p>\n","protected":false},"excerpt":{"rendered":"A business park was acquired in Jacksonville, and the company nearly doubled its local footprint. Merritt Properties acquired…\n","protected":false},"author":2,"featured_media":385456,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[143204,154429,116,118,117,154430,143202],"class_list":["post-385455","post","type-post","status-publish","format-standard","has-post-thumbnail","category-jacksonville","tag-business-park","tag-center-point-business-park","tag-jacksonville","tag-jacksonville-headlines","tag-jacksonville-news","tag-merritt","tag-merritt-properties"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/385455","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=385455"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/385455\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/385456"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=385455"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=385455"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=385455"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}