Skip to main content Skip to footer

Guy Preston and Seda Preston with Colliers International announced the sale of 171 acres to Becknell Industrial for $9 million

The sale of the property in Westlake Industrial Park closed Dec. 12

Colliers represents Norfolk Southern, the owner of Westlake Industrial Park, in selling land tracts within the park.

The Prestons said Colliers was instrumental in supporting the underwriting process of Becknell Industrial.

The announcement said that before the purchase, Becknell invested due diligence to allow it to move quickly to clear and mass grade the site in the first quarter and pursue full permitting of a 477,000-square-foot facility expandable to 1.1 million square feet.

The Prestons said it is Becknell’s third land acquisition in the park. Becknell has developed a 185,000-square-foot distribution facility and is planning an additional 161,000-square-foot center on 36 acres it bought previously.

article image 

In October, the city issued a permit for Westlake Land Management to clear, excavate and grade the 171-acre site at a cost of $2.7 million.

Becknell Executive Vice President Dan Fogarty said previously that the Lyons, Illinois-based developer intended to apply for a building permit for a 1.1 million-square-foot distribution center at 13522 Pritchard Road in Westlake Industrial Park.

Becknell Industrial is one of several developers to propose a 1.1 million-square-foot distribution center in Jacksonville, meaning the market is heating up for large projects that typically create hundreds of jobs.

“We’re very emboldened by the activity,” Fogarty said previously. He estimates Becknell’s potential investment at more than $50 million.

Centers that size typically are e-commerce facilities that ship orders to consumers or are other types of fulfillment warehouses that send goods to retail stores and other brick-and-mortar customers.

Read more about the sale here.

Source | Jax Daily Record


Related Experts

Guy Preston

Executive Director

Jacksonville

As an Industrial Specialist, Guy’s role is to provide his clients with expert and comprehensive advice in Industrial Sales and Leasing; Land Sales; Industrial Investment Sales; Port Site Sales and Leasing; Site Selection and E-commerce Distribution and Fulfillment Center Occupier Services.

One of his outstanding strengths is the ability to problem-solve to propel even the most complicated deals to the finish line.

He is a member of the Colliers International Logistics and Transportation Solutions Group, a practice group dedicated to delivering focused industrial real estate advisory services to better address the global economy. Guy has earned the SIOR Designation. SIOR is a society comprised of the most capable and experienced practitioners, delivering best in class service to clients.

Guy has closed transactions over $400M and in excess of 10M SF, as well as thousands of acres of land.

After graduating from Troy University with an Accounting Degree, Guy completed a four-year tour as a Missile Launch Officer in the United States Air Force. He then began his career in commercial real estate, where he continually strives to provide client centric service.

View expert

Seda Preston

Associate Director

Jacksonville

Seda began her career as an Industrial Specialist in 2016 and has amassed an accomplished list of clients and transactions. Her expertise is in leasing and sales of industrial assets, with particular focus on Agency and Tenant representation.

Utilizing her advisory skills and strengths in persistence and organization, Seda has closed leasing transactions of over 2.5M SF and sales transactions of over $200M. She is currently representing 3.2M SF of Agency industrial distribution product in Jacksonville.

 

View expert