WEDNESDAY September 1, 2021
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Daily Record JACKSONVILLE
THE MATHIS REPORT
Investor proposing Imeson warehouse
GrahamDaily Capital principal: ‘We have Record always been big fans of Jacksonville’ JACKSONVILLE
Connecticut-based North Signal Capital is proposing a 421,600-square-foot building on 46.5 acres.
Daily Record Daily Record JACKSONVILLE
BY KAREN BRUNE MATHIS EDITOR
JACKSONVILLE
Through JAX Westside Partners LLC, Graham Capital paid $12.85 million for three buildings totaling 156,165 square feet at 7051 Stuart Ave. and 6982 Highway Ave, in West Jacksonville.
KAREN BRUNE MATHIS EDITOR
The Birmingham, Alabama, firm intends to buy more area properties after its recent $25 million purchase.
Graham Capital intends to continue investing in the Northeast Florida industrial market after spending $24.85 million Aug. 18 for warehouse properties in West Jacksonville totaling 375,279 square feet of space. “We would love to own more,” said Matthew Graham, a principal of the Birmingham, Alabama-based organization. Graham spoke Aug. 27, a day after the deeds for the initial sale were recorded Aug. 26 with the Duval County Clerk of Courts. Graham Capital is a real estate private equity firm that says it focuses on creating attractive risk-adjusted returns for its investors through the acquisition and development of highly functional industrial assets across the Southeastern U.S. “Our focus is on high-growth Southeastern markets,” he said, particularly industrial properties. Graham said the fund that bought the Jacksonville properties was launched at the beginning of the year. “We are actively seeking more deals in the Jacksonville market,” he said.
“Our focus is on highgrowth Southeastern markets, particularly industrial properties. We are actively seeking more deals in the Jacksonville market.” MATTHEW GRAHAM, A PRINCIPAL WITH GRAHAM CAPITAL
North Signal Capital, a Stamford, Connecticut investor, has a contract to buy property in North Jacksonville to develop a warehouse along Imeson Park Boulevard in Imeson International Industrial Park. The city is reviewing civil plans for the proposed 421,600-squarefoot building on about 46.5 acres owned by Imeson Investments Inc. of Coral Gables. The plans are called Groves Phase 2. The St. Johns River Water Management District also is reviewing plans submitted Aug. 30. England-Thims & Miller Inc. is the civil engineer. Imeson Investments is led by Graham Groves. It has been contracting to sell pieces of its property in Imeson International Industrial Park, at northeast Zoo Parkway and Main Street. Duval County property records show Imeson Investments owns about 248 acres bordered by Zoo Parkway, Gun Club Road, Busch Drive North and Imeson Park Boulevard, It wraps around a pond. A July 13 letter to the city from Wallace Kyle Groves says the property is under contract to North Signal Capital. Plans show it will do the deal through NSC Real Estate LLC. North Signal Capital leaders have not commented. Peter Goulding and CJ Carey founded North Signal Capital. It is described as “a real estate investment and development firm that develops and acquires
SEE MATHIS, PAGE 2
SEE IMESON, PAGE 2
Yeager Road warehouse OK’d at almost $15 million The city issued a permit Aug. 25 for a 408,600-square-foot speculative warehouse in North Jacksonville at a construction cost of almost $14.7 million. Webb Southeast Construction Corp. of Orlando is the contractor for the project on 25 acres at 10760 Yeager Road in Imeson International Industrial Park. Imeson International Industrial Park Inc. filed plans with the city in January for the warehouse at northeast Main Street and Zoo Parkway. The Orlandobased developer proposes a warehouse with 74 rear loading docks and 95 trailer parking spaces along with 212 – expandable to 425 – parking spaces.
VOLUME 108, NO. 203 • ONE SECTION