Heritage Capital Group Inc. announced on November 17 that New Vision Properties Inc. has completed a long-term sale-leaseback transaction between an affiliate of InLight Real Estate Partners LLC and Woodsman Kitchens and Floors Inc.
New Vision Properties was the owner of four industrial buildings in South Jacksonville that were leased to Woodsman Kitchens and Floors.
Terms of the transaction were not disclosed. No real estate transactions were recorded with the Duval County Clerk of Court as of Nov. 19.
New Vision owns retail and warehouse properties at 11732 Beach Blvd., 11744 Beach Blvd., 3484 Saland Way and 3621 Beachwood Court, according to property records.
Heritage Capital Group is a Jacksonville-based investment banking and financial advisory firm serving middle market and emerging growth companies in the United States and around the world.
Steel Beach Advisors LLC, a real estate and business brokerage affiliate of Heritage Capital Group, executed the transaction on behalf of client New Vision Properties, according to a release.
CBRE’s Jacksonville office represented the buyer, InLight Real Estate Partners, a Ponte Vedra Beach industrial real estate investor and developer, according to a release.
“This was a complex transaction, but we were extremely satisfied with the guidance and representation of the Heritage and Steel Beach teams, supported by our solicitor, Dennis Blackburn of Blackburn & Company.”New Vision – said Rick Woods, owner of Properties. news release.
InLight Real Estate Partners is led by founding partners David Burch and Jeff Berryhill, and senior vice presidents Charles Margiotta, Eric Fernandez and Jack Reddeck.
CBRE’s Jack Buckley represented InLight. CBRE’s Scott Henry and Gary Marcy were also part of the acquisition team.
“The Southside submarket is a tight market that lends itself to local and regional manufacturing and distribution. We recognized an opportunity to acquire a small portfolio of customers. We look forward to growing this relationship,” Buckley said in the release.
Heritage and Steel Beach’s contract team included Mac Holley, Bill Nicholson, Alex Kellison and Dan Edelman.
Property records show New Vision Properties Inc. owns:
• 20,225 square feet of retail and 15,150 square feet of warehouse built in 1996 on 2.66 acres at 11732 Beach Blvd. Used in the Woodsman kitchen and floors.
• A 41,600-square-foot lighting manufacturing facility constructed in 2021 on a 4.24-acre site at 3484 Saland Way. Also used by Woodsman Kitchen and Floors.
• A 23,794-square-foot flex warehouse built in 2001 on 1.31 acres at 11744 Beach Blvd., No. 200.
• 45,104 square foot warehouse built in 2017 on 3.56 acres at 3621 Beechwood Court.