120,482-square-foot facility will host new production jobs
Jacksonville, FL – June 21, 2016 – CBRE Industrial and Logistics arranged the sale of a 120,482-square-foot industrial facility in Jacksonville, Florida, to Hans-Mill Corp., a New Jersey-based producer of kitchen ware and metal household goods whose investment will add multiple jobs to the region. The property at 5406 West First Street was acquired for $3 million from Covington Group, doing business as 5406 West First Street LLC.
“Vacancy for industrial properties in Jacksonville continues to shrink, particularly for properties that can be purchased,” said CBRE First Vice President Bobby Gatling, who arranged the transaction on behalf of Hans-Mill Corp. “In light of the constrained inventory, this deal is an especially great win for Jacksonville as the buyer’s opening of a manufacturing operation will result in many new jobs for the city and further solidifies Jacksonville as a viable option for manufacturing operations looking to relocate or expand into the Southeast U.S. due to favorable local and state incentives, skilled labor and cost of living.”
Along with ample power, the industrial asset at 5406 West First Street features 7,151 square feet of office space, 11 dock doors, one drive-in door, 20-foot ceiling heights, a large truck court and fenced parking.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
