VanTrust Real Estate, a full-service real estate development company, today announced it has purchased 196 acres in Imeson Park for the development of a master-planned industrial park. The property, “Imeson Park South,” is located at 1400 Zoo Parkway.
VanTrust purchased 136 acres from the Charles W. Bostwick Trust and 60 acres from Dan Webb representing CEFL, Inc. for a total of $22,828,700. The master-planned industrial park includes plans for six buildings that total approximately 2.8 million square feet.
The purchase is completed as the industrial and e-commerce sectors continue to experience rapid growth in Jacksonville, leading to a greater need for distribution facility support. JAXUSA Partnership recently reported that it has brought 13 e-commerce companies to Northeast Florida in the past five years, which represents investments of more than $3.3 billion in infrastructure and the addition of nearly 18,000 jobs.
“Due to its ease-of-access to major highways, the airport and JAXPORT, Imeson Park is poised to continue its expansion and help build Jacksonville’s reputation as a major logistics and distribution hub in the Southeast,” said Marc Munago, executive vice president, VanTrust Florida. “This project is an example of how VanTrust will continue to spearhead the commercial development of Imeson Park and other regions across Jacksonville to support the city’s economic momentum and growth.”