GCP buys $21 million Florida industrial property

GCP buys $21 million Florida industrial property

Birmingham-based Graham Commerical Properties has acquired a Class A industrial campus in Jacksonville, Fla.  The company announced in a release this week the acquisition of Interstate South Commerce Center, a 25-acre site comprised of six flex space buildings.  GCP purchased the property for $21 million.

GCP is a real estate holding company that was formed in 2013 in connection with the consolidation of more than two-dozen industrial real estate partnerships.  The firm focuses on acquisitions, development and management of industrial properties.

“We’ve always been a huge fan of the Alabama and Florida industrial markets. But we’re ready to grow and ready to look at investment opportunities across the entire Sunbelt region of the U.S.” said GCP President Gardner Lee.

GCP said in a release this week this transaction is the first of many expected for the company, which owns nearly 5 million square feet of industrial real estate already.

 

Bryan Davis – Birmingham Business Journal

Read the original article online here:

http://www.bizjournals.com/birmingham/news/2015/02/06/graham-commercial-properties-buys-21-million.html