Merritt Properties acquired Center Point Business Park, an 11-building, 537,800-square-foot light industrial park in Jacksonville’s Butler Corridor. The deal is the first major transaction announced since the company secured a $750 million investment led by Centerbridge Partners to accelerate its long-term growth strategy.

Merritt Properties acquired Center Point from Plymouth REIT. Royce Rose and Justin Rabin of CBRE National Partners represented the seller in the transaction.

The park is 99% leased to 35 tenants representing a diverse mix of industries. The property features 18- to 22-foot clear heights, rear-load configurations, dock-high loading in most suites, concrete tilt-wall construction, 107 dock doors and 1,005 parking spaces. The average tenant occupies approximately 15,100 square feet.

Located at 4801-6631 Executive Park Court, the property is approximately 1.2 miles from Interstate 95 and one-half mile from the Florida East Coast Railway, providing last-mile connectivity throughout the market.

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