U.S. real estate development company Johnson Development Associates Inc. has completed the sale of a newly built industrial asset in Jacksonville, Florida (Fla) for $14.8 million.
Completed in 2019, the distribution center, dubbed STAG Westlake, is situated at 9779 Pritchard Road, on an 18-acre site in the Westside submarket.
The Class A industrial asset, which is roughly 4 miles west of Interstate 295, has features including 43 truck doors, two drive-in doors, 159 regular parking spots and 52 truck spaces.
Johnson Development divested the 232,488-square-foot warehouse to U.S. real estate investment trust STAG Industrial. Additionally, the property also features 32-foot minimum clear heights and built-to-suit office space.