CBRE Arranges Lease for Publicly Traded Intermodal Freight Operator on Industrial Service Facility in Jacksonville, Fla.

CBRE has arranged a lease for Publicly Traded Intermodal Freight Operator at an industrial service facility (ISF) in Jacksonville. The intermodal company will expand into the Jacksonville industrial market and will occupy 100 percent of the property.

CBRE’s Ben Stewart, Kyle Fisher and Terrell Quarterman represented the landlords, Timber Hill Group, LLC and Champion Realty Advisors, LLC, in the lease negotiations.

“The ISF market remains very strong in Jacksonville,” said Stewart. “With the growth of Jacksonville Port Authority (JAXPORT) intermodal hubs and operators growing, and trucking showing no signs of slowing down, we remain very bullish on the growth of this niche within industrial real estate.”

The property is located on a 21-acre lot at 6505 Old Kings Road, minutes east of Interstate 295 within the Westside Industrial submarket.

According to CBRE Research, the JAXPORT deepening project to 47 feet has allowed for larger container ships to enter the port. As a result, companies have opened, or have announced the opening, of warehouses in Jacksonville due to new demand and nearly 1.02 million square feet of positive net absorption was recorded in Q3 2022.