Equity placement arranged for Class A industrial property in Jacksonville, FL

MIAMI, Nov. 6, 2024 – JLL Capital Markets announced today it secured the equity placement for Building A at Park 295, an approximately 101,138-square-foot Class A industrial property in Jacksonville, Florida.

JLL worked on behalf of Hazel Street Industrial to secure the equity through Faropoint.

The project will feature four units, each around 25,000 square feet, with speculatively built out office space and project dimensions of 156-foot by 160-foot depth, catering to the high demand for light industrial space in the area. The state-of-the-art facility also features 79 auto parking spaces, 38 dock doors, two drive-in ramp doors and a 32-foot clear height.

Located at 0 Ignition Drive, Building A at Park 295 boasts a prime location at the entrance of Park 295, a fully leased 1.7 million-square-foot industrial park. The property offers excellent access to the I-295 Beltway and major interstates and is situated just 12 miles from JaxPort's Blount Island Terminal. With its proximity to Jacksonville International Airport, the development is strategically positioned to meet the needs of various industrial businesses.

“We are excited to break ground on this development, which will provide underserved tenants with functional, high-quality space to support their operations and growth,” said Robert Fitzgerald, Co-Founder at Hazel Street Industrial.

James Ryan, Co-Founder at Hazel Street Industrial, added, “We extend our gratitude to JLL for their efforts and thank Faropoint for their invaluable partnership in bringing this project to fruition.”

"We’re thrilled to launch this project with Hazel Street Industrial and are eager to pursue similar opportunities across other major metros,” said James Mendel, Florida’s Director of Acquisitions for Faropoint. “With this project’s prime location in an established business park, high-quality build and tailored-turnkey offerings for tenants seeking space under 50,000 square feet, this project will stand out as a compelling offering within Jacksonville’s industrial landscape.”

The JLL Capital Markets team was led by Cody Brais.

Brais commented, "The scarcity of new construction catering to this tenant size creates a compelling supply-demand imbalance. This will likely continue to fuel Jacksonville's position as the country's second-most-occupied market for small bay and light industrial space."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Hazel Street is a vertically integrated real estate operating company and investment manager exclusively focused on the development and acquistion of shallow bay industrial assets in major Florida markets.

Faropoint is a tech-enabled, vertically integrated real estate investment manager specializing in urban logistics within the US industrial sector. With approximately 120 employees, Faropoint leverages data and deep market relationships to address inefficiencies in the industrial real estate market. The firm operates in 16 key US markets, securing off-market deals through its extensive broker network and strong local presence. Since its inception in 2012, Faropoint has acquired over 400 warehouses, representing more than $3 billion in industrial real estate assets. For more information, visit Faropoint.com.