VanTrust Real Estate sold the 1.1 million square foot Amazon.com center it developed in Imeson Park to a California investor for $ 103.5 million.
Through JI Imeson Industrial Building E LLC, VanTrust on December 17 sold the distribution center located at 10501 Cold Storage Road to LBA Realty in Irvine, California.
LBA Realty has formed LBA LVF VII-Company XXVI LLC to purchase the property. The deed was registered Jan. 5 with the Duval County Court Clerk.
JPMorgan Chase Bank issued a mortgage of $ 124.4 million to LBA Realty on December 17. The mortgage was also registered on January 5.
JLL represented VanTrust in the sale.
VanTrust developed the structure, called Building 500, from 2019-21 at Imeson Park in North Jacksonville.
Seattle-based e-commerce retailer Amazon announced in September 2020 that it would open a 500-job fulfillment center in Jacksonville in fall 2021 in the building.
Construction plans call it a Softlines distribution center. Amazon said the center will select, package and ship small items, including clothing, accessories and shoes.
VanTrust owns Imeson Park, located northeast of North Main Street and Zoo Parkway.
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