Manulife Investment Management has acquired Arcadia Jacksonville, a 333,725-square-foot, class A cold storage facility in Jacksonville, Fla., for $68.28 million.
JLL worked on behalf of the borrower to secure a five-year, fixed-rate loan through an insurance company.
Completed in 2024, Arcadia Jacksonville is a cold storage facility featuring flexible temperature zones ranging from minus 20 to 35 degrees Fahrenheit, 50-foot clear heights, 32 dock-high doors and a 210-foot truck court depth. The facility is 100 percent leased to Arcadia Cold Storage & Logistics.
The property is located within Imeson Industrial Park, one of Jacksonville’s premier logistics hubs, providing quick access to major interstates Interstate 95, I-295 and I-10, as well as Jacksonville International Airport, JAXPORT and CSX Intermodal. This enables national distribution and access to over 30 million consumers within a six-hour drive.
