
Central Florida Growth Portfolio
12310 62nd Street North, Largo, FL, 33773, US
658,802 sf
Jones Lang LaSalle, Inc. has been exclusively retained to market for sale the fee simple interest in DHL Cold Storage – a newly-built ±603,200 SF Class A cold storage industrial facility located in the Eastport industrial pocket of Jacksonville, FL. Situated on a 49.8 acre site, the Property was designed as a future-ready sustainable facility allowing for LEED certification and features best-in-class core and building specifications.
The build-to-suit Property is fully leased to DHL (the "Tenant"), one of the world's leading logistics companies that enjoys an impeccable A2 credit rating (Moody's), and has operated for the last 15 years. The facility was developed to service Danone's neighboring mission-critical manufacturing plant which recently completed a $65M renovation and expansion to include an additional production line, and is less than a 10 minute drive from this facility. Danone operates 13 facilities in the US, has been operating in the Jacksonville market since 1948, and similarly enjoys a BBB+ S&P credit rating.
DHL Cold Storage offers investors the unique opportunity to acquire a newly built, Class A cold storage warehouse with market-leading improvements and future-ready sustainability features within a strategic Southeast US port market on a long-term net lease.
Class A, new construction 603,200 SF cross-dock cold storage industrial facility located within the Jacksonville MSA's fastest growing and most prominent submarket, only 5.5 miles away from JAXPORT.
Fully leased for 15 years starting Aug-2025 to DHL—one of the world's leading logistics companies, wholly owned by Deutsch Post (Moody's: A2).
Bankable cash flow with above average annual rent increases of 3.5-4%.
Mission-critical facility developed to exclusively support the Danone (S&P: BBB+) manufacturing plant.
Offered at a significant spread to similar duration corporate DHL bonds (4.00%) and below recent cold storage sale transactions.
Jacksonville is a high growth market for DHL and an "Emerging Campus" to support customers and increase logistics and transportation efficiencies.