Faropoint completes $105m off-market acquisition of 16-building portfolio in Jacksonville, Fla., and Memphis, Tenn.

Faropoint has announced the off-market acquisition of a 16-building industrial portfolio across two key logistics markets, Jacksonville, Fla., and Memphis, Tenn. The portfolio, totaling 1.7 million square feet, was acquired for $105 million. The transaction was brokered by Eastdil Secured.

This multi-market acquisition, featuring four buildings in Jacksonville and 12 buildings in Memphis, consists of strategically located industrial assets that align with Faropoint’s long-term strategy of securing high-demand properties in key U.S. markets.

The Jacksonville and Memphis assets offer strong submarket density, high-quality property specs and desirable tenancy types. The assets’ proximity to each other within target submarkets provides operational advantages, while their solid build quality and location offer opportunities for value creation through strategic improvements and proactive leasing.