InLight Real Estate buys 65 acres along North Jacksonville waterfront | Jax Daily Record | Jacksonville Daily Record

A subsidiary of InLight Real Estate Partners paid $14.95 million for 65.3 acres along the riverfront in North Jacksonville.

A instrument filed Jan. 11 with the Duval County Clerk of Courts shows Somers Road Jacksonville Propco LLC, the subsidiary of the Ponte Vedra Beach-based investment and development company, purchased the property on Dec. 30 from Container Land Associates LP of Isle of Palms bought , South Carolina.

Village Bank & Trust of Rosemont, Illinois posted a $10.6 million mortgage.

Linda Daniels and Associates, a commercial real estate brokerage firm, announced Jan. 14 that it facilitated the transaction on behalf of the buyer and seller.

There is a small warehouse on the premises.

The property is located at 8730 Somers Road, east of Main Street and across from the St. Johns River. There is a small warehouse on the premises.

“Demand for industrial real estate remains high in Jacksonville, due in part to the rapid growth of warehouses to support e-commerce and changes in consumer behavior during the ongoing pandemic,” the press release reads.

Container Land Associates originally planned to lease the property, but “market conditions resulted in a mutually beneficial sale opportunity.”

“By working closely with InLight and Container Land Associates, LP, we were able to negotiate an agreement that made financial sense for both parties. We look forward to seeing how this land is used in the future to support Jacksonville’s continued growth as a leading industrial and logistics company,” said Founding Director Linda Daniels in the press release.

It is said that InLight plans to use the space for heavy-duty outdoor storage to meet the growing needs of JaxPort and industrial logistics operations.

This includes shipping container storage, tractor trailer parking and chassis storage.

Guy Preston and Seda Preston of Colliers in Jacksonville will lease the property on behalf of InLight.

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