JLL Capital Markets arranges the equity and construction financing for FLEXSPACE Ventures new state-of-the-art cold-storage warehouse near JAXPORT in Jacksonville, FL

 

Melissa Rose

MIAMI, FL – JLL Capital Markets has arranged joint venture development equity and construction financing for the build-to-suit development of FlexCold – Jacksonville, a 150,000-square-foot, state-of-the-art cold storage warehouse in Jacksonville, Florida.

 JLL worked on behalf of the developer, FLEXSPACE Ventures, LLC, to arrange the development equity partnership with BentallGreenOak (BGO).

Marc Duval

Additionally, JLL placed the two-year, floating-rate construction loan for the project with Bank of America.

 The JLL Industrial Equity Advisory team that represented the developer included Marc Duval, Dustin Volz and Wells Waller.

The JLL Debt Advisory team was led by Michael Klein,
Melissa Rose and Wells Waller.

“This joint venture creates an experienced operating platform and a leading investment manager targeting cold storage development in key distribution nodes in the U.S.,” Duval said.

 “The partnership between Flexspace and BGO will be a dynamic relationship going forward and help solve the challenges of inefficient product and supply chain disturbances within the space.”

Dustin Volz

 “Due to the best-in-class sponsorship in Flexspace and BGO and the ideal location with proximity to JAXPORT, we were able to build a strong market of lenders and had a seamless execution on the construction financing,” Klein said.

 “Lenders are finally understanding the growing necessity for new cold storage developments focusing on the use of technology to create flexible and efficient temperature-controlled space.” Rose added.

The facility is designed specifically to serve industries such as poultry, beef, seafood, and frozen consumer packaged goods.

Wells Waller

FlexCold is a new market entrant in the third-party food logistics industry, that will utilize the facility to meet a variety of needs, including convertible storage areas, USDA and FDA inspection rooms, blast-freezing capabilities and extensive import/export services.

Opening summer 2022, the facility will have more than 25,000 pallet positions, 50-foot clear heights, and temperatures ranging from -10 to 35 degrees Fahrenheit.

Other facility features include insulated metal-panel construction, high-density mobile racking system, ALTA refrigeration system and 28 refrigerated docks.

Michael Kline

 Situated on 12.06 acres at 11180 Blasius Rd., FlexCold – Jacksonville is strategically located approximately three miles from Jacksonville Port Authority (JAXPORT), which is one of the busiest seaports in the U.S. and provides direct connections to 140 ports in 70 countries around the world.

 

CONTACT:

 Kimberly Steele

 JLL Manager

 Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com