CenterSquare Investment Management has acquired Philips Highway Industrial Park, a 10-building, 106,643-square-foot industrial portfolio in the Southside submarket of Jacksonville, Fla. The portfolio is 94 percent occupied and features an average suite size of 4,300 square feet; 16-foot to 20-foot clear heights; masonry, block and metal construction; and a mix of dock-high and drive-in loading.
The property is located near major national and regional thoroughfares, providing tenants with access to a broad service area.
CenterSquare acquired the property in an off-market transaction. The company said its business plan includes rebranding the industrial park, repainting exteriors, updating signage and completing deferred maintenance, including roof and asphalt repairs, while marking rents to market.
“Philips Highway Industrial Park exemplifies CenterSquare’s conviction in the service industrial sector and underlines our fundamental approach to acquiring functi
