Dalfen America Corp (DAC) has sold the Main Street Distribution Center, a 100% leased industrial property, located in Jacksonville, Florida.
DAC acquired the property vacant from WP Carey as part of its last opportunistic industrial fund in August 2012.
The Main Street Distribution Center is a 240,000 square foot cross-dock, concrete tilt-up distribution warehouse with 32’ clear ceiling heights that was built in 1991. DAC extensively renovated and modernized the property and shortly thereafter signed a five-year NNN lease with Samsonite. Occupying over one million square feet of warehouse in the area, Jacksonville has become Samsonite’s central US distribution hub.
Mike Davis and Michael Lerner of Cushman & Wakefield represented DAC in the sale to Becknell Industrial for USD8,725,000.
Sean Dalfen (pictured), managing principal and chief investment officer at Dalfen America Corp, says: “The rapid turnaround of this asset exemplifies our commitment to staying focused on our fundamental strategy of acquiring well located, high quality properties with solvable problems at the right price.” Adding, “To completely revamp, lease and sell this property within an eleven month period is truly incredible and speaks volumes about our operations and capital markets teams.”
Over the past 30 months, through its Ashrei Opportunistic Industrial Funds I & II, DAC has closed on 53 buildings and four million square feet of land across the US and Canada.