Imeson Park IOS

Jones Lang LaSalle ("JLL"), as exclusive advisor to ownership, is pleased to offer for sale the fee-simple interest in Imeson Park IOS (the “Offering” or the “Property”), a 24-usable acre industrial outdoor storage ("IOS") site strategically positioned within the high-growth Jacksonville industrial market. The Property is defined by its prime location adjacent to the institutionally owned and occupied Imeson International Industrial Park and proximity to key transportation infrastructure including I-95, I-10, and Florida’s leading seaport (JAXPORT). Currently 38% leased, Imeson Park IOS generates immediate positive cash flow from a long-term lease with publicly-traded Forward Air Corp. (NASDAQ: FWRD) and a license agreement with 3rd-party parking operator Outpost (fka Semi Stow), who currently has a contract with Tesla where they park cars and cyber trucks at the Property. While the in-place tenancy provides future ownership with going-in positive cash flow, the ability to lease-up the available 15 acres presents an immediate path to outsized returns with a variety of exit options given the site's versatility and the ability to drive returns further as Forward Air's in-place rent is almost 14% below market. 

What separates Imeson Park IOS from many competing IOS opportunities is the future optionality the site provides. Critically, all of the usable acreage is located outside a flood plain, making it a prime candidate for traditional industrial development just like Freezpak's build-to-suit project on the immediately adjacent parcel . While the location next to Imeson makes this an excellent covered land play, the site and zoning can also accommodate bulkhead along the water, allowing users to bring barges up to the site just as the site's west neighbor, Gate Precast, has done for decades. This unique optionality provides a number of distinct possible exits for future ownership, from sale to the growing number of IOS aggregators to traditional, vertical industrial developers to a user that needs working waterfront. As such, Imeson Park IOS represents a unique opportunity to invest in a vital component of modern logistics infrastructure in the form of a well-located site with immediate cash flow, significant value-add potential, and long-term optionality in one of the fastest-growing Sunbelt markets.