REIT Acquires Fully Leased Distribution Center in Jacksonville for $42.5M
Real estate investment trust (REIT) Global Income Trust, Inc. has acquired the 817,632-square-foot distribution center in Jacksonville, FL that is fully leased to Samsonite, LLC for $42.5 million.
citybiz real estate previously reported on this transaction.
The Class A industrial building, located on Yeager Road in the 1,500-acre Imeson International Industrial Park, serves as the primary North American distribution center for Samsonite. It is located 1.2 miles from Interstate 95 and has direct access to the Jacksonville Port Authority and Jacksonville International Airport, making it an ideal location for supply chain logistics operations.
The building, which is located on a 53-acre site, was built in 2008 and is leased through February 2018 with two five-year renewal options.
The Samsonite facility joins other properties in Global Income Trust’s portfolio, including suburban office buildings, a distribution center in Texas and three value retail centers in Germany.
Global Income Trust is advised by CNL Global Income Advisors, LLC, which is an affiliate of the REIT’s sponsor, CNL Financial Group.